TRADE OPPORTUNITY LATER TODAY

There is a potential for a good news trade later today when the Australian Labor Change report is released at 9:30 pm EDT (1:30 am GMT). The focus should be on the Labor Force Employment figure, and the expectation for this release is 22.5k jobs. We have placed a safe trigger of 15k jobs for this release. We have historically seen moves of around 25 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 has met our safe triggers eight times in the past year and provided a 30 to 80 pip move each time. This release last met our safe trigger in February and the AUDUSD moved approximately 70 pips in a very short period of time. The chart of the AUDUSD at the time of February’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.

Good Luck!!!!

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This entry was posted on Wednesday, May 12th, 2010 at 8:17 am 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.