TRADE CALL RECAP

For our last live trade call, we were watching the UK CPI report this morning. We were looking to buy the GBPUSD if the number came out at least 0.2% better than expected. The actual number came out 0.3% better than expected so it met our safe buy trigger and we entered a trade. Traders reported profits on the trade of up to 25 pips, depending on their open prices. The video of this trade is below.

httpv://www.youtube.com/watch?v=8a924_98lD0

OUR NEXT LIVE ON THE NEWS TRADE CALL

Tomorrow we will have a live trade opportunity when the Canadian CPI report is released at 7:00 am EST. There are several components to this release, and we will be focusing on the CAD CPI Excluding Core 8 (YoY) figure. The expectation for this report is -0.2%. We will be looking for a deviation of at least 0.2% to trigger a safe trade. A lower than expected number will trigger a buy on the USDCAD or EURCAD.

Although the USDCAD and EURCAD are currently in a down trend, they both look like they are trying to break out of the trend. Our focus on this particular release will be biased for a buy on the USDCAD and even the EURCAD, but we could see a 15-30 pip spike either way if it meets our trigger. We will use caution on this particular release as it has gone the wrong direction a few times recently. Because of this, we will most likely raise our safe trigger to 0.3%.

This report last met our safe trigger in June, and the USDCAD only dropped about 10-15 and stalled so we recommended closing the trade with small profits. We had traders report profits of 5-10 pips on this particular trade. The chart below shows how the USDCAD reacted at the time of June’s release:

We do not have a video of June’s release, so to see a video of last December’s trade, click on the link below:

http://www.forextradersdaily.com/vid/CADCPI121908/

This is our current outlook for this trade; however, it is subject to change as market conditions may change by tomorrow. Be sure to log in to the Live Trade Room 15 minutes prior to the release to get my commentary on this potential trade.

Good Luck!!!!

HOW TO TRADE THE FREE CALLS

If this is the first time you are receiving my trade calls, please visit…

http://www.forextradersdaily.com/signals.htm

for important information on how to use my calls.

WOULD YOU LIKE ME TO COACH YOU THROUGH
THIS TRADE IN REAL TIME TOMORROW?

Then visit: http://www.forextradersdaily.com/forex2.php

This entry was posted on Tuesday, January 19th, 2010 at 12:13 pm and is filed under Forex News Trading Live. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.