I wanted to recap what we did on the last live trade call and give you the criteria for potential trades tonight and tomorrow.
The last trade call I sent out covered the Canadian GDP report this morning. For this report, our plan was to go long on the EUR/CAD if the release came out lower than expected by 0.3% or more from the expected number of 0.4%. The actual number came out with a deviation of -0.1%, so our trigger was not hit and we did not enter this trade. To see the video of the trade click on the following link:
TRADING OPPORTUNITY TONIGHT
There are two AUD news releases coming out tonight at 9:30 pm EDT. The AUD Retail Sales report is coming out, and is expected to be 1.0%. We have set a safe trigger of 0.5% for this release. We also have the AUD Trade Balance coming out, which is expected to be -$1,150 Million. We have set a safe trigger on the RSS for this report for a deviation of $500 Million.
I would advise extreme caution, as both of these reports can have an impact on the market. I think the Retail Sales should be the report that has a bigger effect, but both can move the market with a large deviation. If the reports come out conflicting with each other, you may want to exit the market quickly. We will not have the Live Trade Room open, but we wanted to make you aware of this potential trade opportunity.
OUR NEXT LIVE ON THE NEWS TRADE CALL
Our next Live on the News trade call will be on the US ISM Manufacturing Report that will be released tomorrow at 10:00 am EDT. The expected number for this report is 55.5. A higher than expected number will be good for the USD and signal a short on the GBP/USD, and a lower than expected number will be bad for the USD and signal a long on the GBP/USD. We will be looking for a deviation of 1.5 on this report to trigger a safe trade.
The last time our safe trigger was hit on this report was in May, where we saw a 15-20 pip move. To see the video of May’s trade click on the following link:
Good Luck!!!!
