I would like to recap what we did on the last live trade call and give you the criteria for a possible trade tomorrow. The last trade call I sent out covered the UK CPI report this morning. For the UK CPI Harmonized EU report, we were looking to short the GBP/USD if the report came out at least 0.2% worse than expected. The actual number came out with a deviation of 0.1%, so it did not meet our safe trigger. However, several of our traders got in with a medium trigger on this trade and reported profits of up to 50 pips on this trade.
To see a video of this trade, please click on the link below:
OUR NEXT LIVE ON THE NEWS TRADE CALL Tomorrow we will have an opportunity to trade when the US CPI report will be released at 8:30 am EDT. We will be focusing on the US CPI Ex. Food & Energy figure, which will be Row 1 on the RSS. The expectation for this report is 0.2%. We will be looking for a deviation of 0.2% to trigger a safe trade. A higher than expected number would be good for the USD and would signal a short on the GBP/USD, and a lower than expected number would be bad for the USD so that would signal a long on the GBP/USD.
This news release seldom hits our safe trigger; however, we have seen some good moves in the past even with a medium deviation of 0.1%. The last time this release met our medium trigger was in June, and the market moved approximately 35 pips.
To see a video of June’s release, please click on the link below:
This is our current outlook for this trade; 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 this potential trade.
Good Luck!!!!
