I wanted to recap what we did on the last live trade calls and give you the criteria for a potential trade tomorrow. The last trade calls I sent out covered the Canadian and US CPI reports this morning. For the Canadian CPI report, we were looking to long the USD/CAD if either the Core CPI (YoY) or the CPI (MoM) numbers came out lower than expected by 0.2% or more. The Core CPI figure came out with a -0.1% deviation, and the CPI MoM figure came out with a deviation of -0.4%, so that did hit our safe trigger and we entered the trade. We had many traders report profits of up to 15 pips on this particular trade.
To view the video of this trade click on the link below:
For the US CPI report, we were looking to long the GBP/USD if the number came out lower than expected by 0.2% or more. The actual number came out with no deviation, so we did not enter this trade.
To view the video of this trade click on the link below:
OUR NEXT LIVE ON THE NEWS TRADE CALL
We will have an opportunity to trade tomorrow when the UK Retail Sales report is released at 4:30 am EDT. We will be focusing on the UK Retail Sales MoM figure, which will be Row 1 in the RSS. The expectation for this report is 0.0%. A higher than expected number will be good for the GBP and signal a long on the GBP/USD, and a lower than expected number will be bad for the GBP and signal a short on the GBP/USD. We will be looking for a deviation of 0.4% on this report to trigger a safe trade. This report met our safe trigger last month, and we had traders report profits of up to 25 pips.
To see a video of this trade click on the following link:
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!!!!
