This is what we have going tomorrow
UK INDUSTRIAL PRODUCTION
Tomorrow we have UK Industrial Production which is expected at .3%. This release has moved the market well in the past with .5% deviation so if the number comes out at .8% or higher I may take a long position on the GBP/USD and if it comes out at -.2% or lower I may take a position short on the GBP/USD.
This will in all likely hood be a very cut and dry trade as there are not any releases accompanying this release that have a history of affecting the market. If my triggers are hit I would expect to see around 30 pips. This will be released at 4:30am eastern.
BOE RATE DECISION
The next thing to watch will probably not be tradable as it very rarely differs from the expected number, I am referring to the BOE rate decision at 7:00am eastern. They are expected to stay the same however if by chance they raise rates this would move the GBP/USD up by around 100 pips or more. On the other hand if they lower rates the opposite would be expected and we would likely see a fall of 100 pips or more on the GBP.
ECB RATE DECISION
This is the exact same scenario as the BOE trade except you Would Trade the EUR/USD. A rate increase will signal a buy and a decrease will signal a sell. It is expected to stay the same at 3.5%. I would not expect as big of a move out of this when compared to the BOE trade but it will probably move close to 100 pips. This will be released at 7:45. I personally don’t even trade rate decisions as they vary rarely deviate from what is expected.
To my paid members we will not be live in the room for these, stay Tuned as I will be releasing some good news tomorrow about some MAJOR changes.
Good Luck trading!!!
