TRADE OPPORTUNITY LATER TODAY
There is a potential for a good news trade later today when the Australian Labor Change report is released at 7:30 pm EST. The focus should be on the Labor Force Employment figure, and the expectation for this release is 15k jobs. We have placed a safe trigger of 15k jobs for this release. We have historically seen moves of around 30 to 75 pips when this release has met the safe deviation.
We will most likely prefer to see a sell trigger on this particular release as the AUDUSD is currently in a down trend, and a negative number could also have a larger impact on the market. We could still get a good move on a buy trigger, but you will likely want to exit with 25-40 pips of profit if it triggers a buy. You will want to keep a close eye on this release as the news can sometimes come out a little late. If you see a quick move on the AUDUSD before the news comes out, you will want to shut off the auto-click quickly.
This release met our safe triggers nine times last year and provided a 30 to 80 pip move each time. This release has had a significant deviation in each of the last four months, causing the AUDUSD to move 50-75 pips each time. The chart of the AUDUSD at the time of last month’s release is below:
We will not have the Live Trade Room open for this trade, but I wanted to make you aware of this opportunity.
Our next live trade opportunity will be on Friday morning when the US Retail Sales report is released. I will provide more information on that opportunity tomorrow.
Good Luck!!!!
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