LIVE TRADE CALLS RECAP
In our last trade call, we had a couple of different releases
that we focused on this morning. The first was the UK Retail
Sales report, and the second was the US CPI report.
The UK Retail Sales was expected at 0.2%. We were looking to
sell the GBPUSD if the actual number came out 0.5% worse than
expected. The number came out with a deviation of -0.2%, so
our trigger was not met. Although our trigger was not met,
there was some significant movement on the GBPUSD to the down
side as the revisions and other data came out worse than
expected. To see the video of this trade call, click on the
link below:
Later in the morning the US CPI report which was expected at
0.2% as well. We were looking for a deviation of 0.2%; however,
I mentioned in the room that a trigger 0.1% would also be a
reasonable trigger, as recently the market has moved quite nice
with a 0.1% deviation. This release did not hit our trigger. It
came out as expected, and there was no deviation on the US CPI
report as well.
ADDITIONAL COMMENTARY ON GBP, CAD, EUR AND CHF
We did get an opportunity to see a very nice trade set up on
the GBPUSD from a technical aspect. We had a classic break-out
trade where the market had broken the former lows, found
support, and then retraced back up. In the room, I indicated
that there may be a good sell opportunity off the 2.0503 level
on the GBPUSD. You’ll actually be able to see this in a video
which is posted below.
Additionally, our USDCAD that we have been watching has made
new highs, and it has hit and breached the 0.9817 level I spoke
about this morning. So I’m still holding my USDCAD long
positions, looking for parity (1.000). My EURUSD positions are
still open from 1.4753 and my USDCHF positions are still open
as well from 1.1260 down to 1.1200. To view a video of this
trade, along with the commentary on these currencies, click on
the link below:
