TRADE CALL RECAP
For our last live trade call, we were watching the Canadian GDP report this morning. For this release, we were looking to buy the EURCAD if the number came out at least 0.3% worse than expected. The actual number came out with no deviation from the expected number, so it did not meet our safe trigger.
TRADE OPPORTUNITY TONIGHT
There is an opportunity to trade tonight when the Australian GDP is released at 9:30 pm EDT (1:30 am GMT). Your focus should be on the GDP (QoQ) figure, and the expectation for this release is 0.9%. We have placed a safe trigger of 0.4% for this release, and we have historically seen moves of around 25 to 40 pips when this release has met the safe deviation.
Below is a chart on the AUDUSD from the last time this release met a 0.4% trigger last September.
We will not have the Live Trade Room open for this trade, but I wanted to make you aware of the opportunity.
OUR NEXT LIVE ON THE NEWS TRADE CALL
Our next live trade opportunity comes tomorrow when the US ISM Manufacturing Report is released at 10:00 am EDT (2:00 pm GMT). The expected number for this report is 53.2. A higher than expected number will be good for the USD and signal a long on the USDJPY and EURJPY, and a lower than expected number will be bad for the USD and signal a short on the USDJPY and EURJPY. We will be looking for a deviation of at least 2.1 on this report to trigger a safe trade.
For this trade we will focus on the EURJPY and we will likely prefer a buy trigger as a better than expected number could have a bigger impact on the stock market. However, we could see a good move on a sell trigger as well so we will trade it either way.
This report last met our safe trigger in April, and we had traders report small profits or small losses, depending on their entries. The chart of the EURJPY at the time of April’s release is below.
The video of April’s trade is below:
httpv://www.youtube.com/watch?v=s2GlFws6Pm4
This is our current outlook for this trade opportunity; 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 the trade.
Good Luck!!!!
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