TRADE CALL RECAP
For our last live trade call, we were watching the UK Retail Sales report this morning. For this release, we were looking to buy the GBPUSD if the number came out at least 0.4% better than expected. The actual number came out only 0.2% better than expected, so it did not meet our safe trigger.
OUR NEXT LIVE ON THE NEWS TRADE CALLS
Tomorrow we will have two opportunities for trades as the Canadian CPI and Retail Sales reports are both released. Our first opportunity comes when the Canadian CPI report is released at 7:00 am EDT (11:00 am GMT). 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 1.5%. 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.
The USDCAD and EURCAD are currently in an uptrend, so 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 may raise our safe trigger to 0.3%.
This report last met our raised safe trigger last month, and the USDCAD and EURCAD moved over 40 pips each. We had traders report profits of up to 30 pips on this particular trade. The chart below shows how the USDCAD reacted at the time of last month’s release.
The video of last month’s trade is below:
httpv://www.youtube.com/watch?v=J_CDyvMsBvY
The second opportunity comes when the Canadian Retail Sales report is released at 8:30 am EDT (12:30 pm GMT). For this report, our focus will be on the Canadian Retail Sales Less Autos figure, and the expected number for this figure is 0.5%. A higher than expected number will be good for the CAD and signal a short on the USDCAD and EURCAD, and a lower than expected number will be bad for the CAD and signal a long on the USDCAD and EURCAD. We will be looking for a deviation of 0.4% on this report to trigger a safe trade.
For this trade we will again prefer a buy signal, but it should still be tradable either way. We will use caution on this release as we have had some quick spikes then reversals lately on this particular release.
This report met our safe trigger seven times last year and provided moves of 15 to 90 pips each time. It last met our safe trigger last month and provided traders with up to 15 pips of profit on the USDCAD and EURCAD, depending on their entries. The chart below shows the movement of the USDCAD at the time of last month’s release.
The video of last month’s trade is below:
httpv://www.youtube.com/watch?v=TJ818Dq6JNs
This is our current outlook for these trades; however, it is subject to change as market conditions may change by tomorrow. Be sure to log in to the Profit Center (live trade room) 15 minutes prior to the releases to get my commentary on these potential trades.
Good Luck!!!!
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