I wanted to recap what we did on the last live trade call and give you the criteria for three potential trades tomorrow.
The last trade call I sent out covered the US Non-Farm Payrolls report last Friday. For the NFP report, our plan was to go long on the GBP/USD if the release came out lower than expected by 50k or more from the expected number of 100k.
The actual number came out with a deviation of -104k, so our trigger was hit and we entered this trade. We had many traders report significant profits of 30-80 pips and more on this trade! As I mentioned in my update last night, I am still in some positions on the EUR/USD and they are currently showing approximately 100 pips of profit. The EUR/USD has started to break out of the wedge pattern to the up side. If the EUR/USD can reach the former highs, we will see approximately 150 pips of profit on this trade.
To see the video of the trade click on the following link:
OUR NEXT LIVE ON THE NEWS TRADE CALLS
We will have a busy day tomorrow as we will have three news reports coming out, all of them being Trade Balance reports. The first is the UK Trade Balance report that will be released at 4:30 am EDT. The expected number for this report is -$6.4 Billion.
A higher than expected number (less negative) will be good for the GBP and signal a long on the GBP/USD and a lower than expected number (more negative) will be bad for the GBP and signal a short on the GBP/USD. We will be looking for a deviation of $700 Million on this report to trigger a safe trade.
This report has hit our safe trigger two times this year, and has provided moves of 10-30 pips on the GBP/USD each time. The last time this report met our safe trigger was in March.
To see the video of March’s trade click on the following link:
The next two reports are the US Trade Balance and the Canadian Trade Balance reports, which will both be released at 8:30 am EDT.
With the RSS software, we will have the ability to trade both of these releases across multiple currencies. For the US Trade Balance, which will be Row 1, the expected number is -$61 Billion.
A higher than expected number (less negative) will be good for the USD and signal a short on the GBP/USD and a lower than expected number (more negative) will be bad for the USD and signal a long on the GBP/USD. We will be looking for a deviation of $1.5 Billion on this report to trigger a safe trade.
Last month this report met our safe trigger, and we had traders get in and report profits of 10-20 pips. For the CAD Trade Balance, which will be Row 2, the expected number is $5.0 Billion. We will focus on the EUR/CAD for this release as the US data is coming out at the same time. A higher than expected number will be good for the CAD and signal a short on the EUR/CAD and a lower than expected number will be bad for the CAD and signal a long on the EUR/CAD.
We will be looking for a deviation of $0.8 Billion on this report to signal a safe trade. This report has hit our safe trigger four times this year, and provided moves of 15-85 pips on those trades.
To see a video of last month’s trades, click on the link below:
/ This is our current outlook for these trades; 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 releases to get my commentary on the trades. Good Luck!!!!
