OUR LAST LIVE ON THE NEWS TRADE CALL
The last release we were watching was the ISM Manufacturing. The expected number was 50.0 and we were looking for around 1.8 in deviation which we did not get. The release did come out higher than expected which resulted in quite a fall over the following hours.
OUR NEXT LIVE ON THE NEWS TRADE CALL
The time has come and once again we are faced with one of the Most anticipated news releases that we trade. The Non Farm will Be released tomorrow morning at 8:30 am however I am first Going to talk about the CAD employment figures which are due Out at 7 am eastern.
This has become a mini Non Farm moving the market quite a bit. the expected number is 15 and I would like to see around 15 in deviation. So with that said of the release comes out 15 higher than expected I will go short on the USD/CAD and if it comes out lower than expected by 15 I will go long on USD/CAD. I will also keep an eye on the CAD unemployment figures however this will be for confirmation more than anything.
To see the last CAD Employment release that hit our triggers follow The below link. Unfortunately I didn’t get brought in on my Currenex account however many others did get in on there live accounts
Now for the greatly anticipated Non Farm Payrolls being released At 8:30 am eastern. The expected number for this release is 100k And I will be looking for around 45k in deviation to trade this. We haven’t had a trade call on this one in some time as it has missed our triggers. I am actually grateful of this as the Non farm has had some large revisions which made it very difficult to trade the last few months.
If the release comes out 145k or higher I will go short on the GBP/USD And if the data comes out 55k or lower I will take a long on the GBP/USD. I will definitely be watching for revision and if the revision Conflicts with the actual call by more that 17k I will close this trade Unless the actual number comes out way off (70k or more) than I will reassess the situation.
With the ADP coming out wwaayyyy lower earlier this week I think we may see a long signal but if there is one piece of advice I could give you I would say never put boundaries on the Forex. Just when you think you have it figured out it will show you otherwise. ? This report will probably move the market a minimum of 70 pip if our triggers are hit.
Good Luck trading!!!
