TRADE CALL RECAP
For our last live trade call, we were watching the US Retail Sales report yesterday morning. We looking to buy the EURJPY if the number came out at least 0.7% better than expected. The actual number came out as expected, so it did not meet our safe trigger.
OUR NEXT LIVE ON THE NEWS TRADE CALLS
Our next live trade opportunity comes tomorrow when the US CPI report is released at 8:30 am EDT (12:30 pm GMT). Our focus will be on the Core CPI number and the currency pair you should trade is the EURJPY as it typically moves much better than the GBPUSD. A higher than expected number will be good for the USD and signal a long on the EURJPY, and a lower than expected number will be bad for the USD and signal a short on the EURJPY. For the Core CPI figure, we will raise our safe trigger so we will be looking for a deviation of at least 0.2%.
We will most likely prefer a buy trigger on this report as the EURJPY is currently in an up trend. We can anticipate a 25-40 pip spike either way, but it may just be a temporary move if we get a sell trigger. We will use caution on this trade as it hasn’t moved as much recently, and that is why we will raise our safe trigger to 0.2% tomorrow.
This report has met our raised safe trigger two times in the last year, and the EURJPY moved 25 to 45 pips each time. This report last met our safe trigger in February and we had traders report profits of up to 10 pips on the trade. Below is a chart showing the movement of the EURJPY at the time of February’s release:
The video of February’s trade is below:
httpv://www.youtube.com/watch?v=8JQl8ffdx6U
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!!!!
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