Last week was a slow week with only 1 release to trade. The industrial production came out as expected which resulted in a no trade. The upcoming week should be much more eventful. Starting tomorrow with the UK trade balance which is expected at -6.25b. I would like to see around .5b in deviation to trade this and a higher number signals a buy on the GBP/USD and a lower number signals a sell on the GBP/USD. Remember that this is a deficit so a more negative number is a lower number and a less negative is a higher number. In the past few years I have seen .5 move the market as much as 40pips and as little as 15pips however there was only one occurrence of a 15 pip move. For those that have been following my calls for a while you know that I don’t trade a release unless it has consistently moved the market 30+ pips with a given deviation. The 15 pip move seems to be an isolated incident so I will be trading this. There are some other things to consider. The PPI is being released at the same time and could effect the market as well. These numbers will have the same directional affect as the Trade balance. A higher number will be GBP positive and a lower number will be GBP negative. If they are conflicting I will close the trade ASAP and if they are in agreement I will manage the trade using technical levels for my exit. This data will be released at 4:30am eastern time.If this is the first time you have received my trade call please visit this page for important info on how to trade using my calls. Good Luck!!
