OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we have CAD Retail Sales Less Autos which is expected at -.3%. The desired deviation is .3%. A higher than expected number will signal a sell on the USD/CAD and a lower than expected number will signal a buy.
I will also watch the Retail Sales (MoM) which is expected at -.9%. This will work the same way with a higher number giving a short biased and a lower number giving a long biased.
Revisions are common so I will keep an eye out for any revisions as well. If they revise last months number up this will give a short biased and if they revise it down it will give a long biased.
Both of these releases are coming out at 8:30 am eastern and I will be trading the USD/CAD. This release historically has moved around 25 pips on average so what I will do is look for obvious support and resistance approximately 25 pips away from pre release market price. If the release far exceeds my trigger I will manage it based on support and resistance as well. I mark these levels ahead of time so that I will be ready.
Good Luck trading!!!
