TRADE CALL RECAPS

For our last live trade call, we were looking at the Canadian and US Trade Balance reports yesterday morning. For the Canadian Trade Balance we raised our safe trigger, so we were looking to buy the EURCAD if the number came out at least $1.5 Billion worse than expected. The number came out only $1.3 Billion worse than expected, so it did not meet our safe trigger. The EURCAD only reacted slightly to the data, so it was good that we raised our trigger. We recommended not trading the US Trade Balance and it did not meet our safe triggers either.

OUR NEXT LIVE ON THE NEWS TRADE CALL

Our next live opportunity for a trade comes tomorrow when the US Retail Sales report is released at 8:30 am EDT (12:30 pm GMT). Our focus will be on the US Retail Sales Less Autos number, which is expected to be 0.4%. We will trade the EURJPY currency pair as it typically provides a better move on this data. We will look for a buy on the EURJPY if the number comes out at least 0.7% better than expected.

We will most likely prefer a buy trigger on this reports as better than anticipated data could help the stock market. I anticipate a 30-50 pip spike either way, but it may just be a temporary move if we get a sell trigger.

The US Retail Sales report has met our safe trigger eight times in the last year, and the EURJPY moved 30 to 85 pips each time. This report last met our safe trigger in March and we had traders report profits of up to 32 pips on the trade. Below is a chart showing the movement of the EURJPY at the time of March’s release:

The video of March’s trade is below:

httpv://www.youtube.com/watch?v=E7ObNgeSTss

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 Thursday, May 13th, 2010 at 9:01 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.