I would like to recap what we did on the last live trade call
and give you the criteria for two possible trades tomorrow.
The last trade call I sent out covered the UK Trade Balance
report this morning.
For the Trade Balance report, we were looking to long the
GBP/USD if the report came out at least $900 Million better
than expected. The actual number came out with a deviation of
$285 Million, so it did not meet our safe trigger and we did
not enter this trade. To see a video of this trade, please
click on the link below:
OUR NEXT LIVE ON THE NEWS TRADE CALLS
The US Trade Balance and the Canadian Trade Balance reports
will both be released at 8:30 am EST. 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 -$57.3 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. This report met our safe trigger last
month, and and market moved approximately 20 pips.
For the CAD Trade Balance, which will be Row 2, the expected
number is $2.3 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 five
times this year, and provided moves of 15-85 pips on those
trades. This release met our safe trigger last month and we
had traders report profits of up to 25 pips, depending on their
entries. 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 fifteen minutes prior
to the releases to get my commentary on the trades.
Good Luck!!!!
