TRADE CALL RECAPS
For our last live trade call, we were watching the UK Retail Sales and US CPI reports last Thursday morning. For the UK Retail Sales 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 0.4% better than expected, so it met our safe trigger and we entered a trade. We had traders report profits of up to 16 pips on the trade. The video of this trade is below.
httpv://www.youtube.com/watch?v=4sn_kozI2_o
For the US CPI report, we suggested raising our safe triggers so we were looking to buy the EURJPY if the number came out at least 0.2% better than expected. The actual number came out as expected, so it did not meet our safe triggers.
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we will have an opportunity for a trade 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 1.7%. 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 a down trend, so our focus on this particular release will be biased for a sell 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 raised safe trigger in April, 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 April’s release:
The video of April’s trade is below:
httpv://www.youtube.com/watch?v=J_CDyvMsBvY
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 Profit Center (live trade room) 15 minutes prior to the release to get my commentary on this potential trade.
Good Luck!!!!
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