CANADIAN RETAIL SALES PROVIDES UP TO 40 PIPS FOR TRADERS
Last Friday we were watching the Canadian Retail Sales figures,
and we were looking to long the USD/CAD and EUR/CAD if the
number came out at least 0.4% worse than expected. The actual
number came out with a deviation of -0.6%, so it met our safe
sell trigger and many traders entered this trade. We received
report of up to 30 pips of profit on the USD/CAD and up to 40
pips on the EUR/CAD. To see the video from this trade, click
on the link below:
OUR NEXT LIVE ON THE NEWS TRADE CALLS
We will have two opportunities for trades tomorrow. The first
opportunity will be on the UK GDP Report that will be released
tomorrow at 4:30 am EST. The expected number for this report
is 0.6%. 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 0.2% on this
report to trigger us into a safe trade. We may decide to
lower the trigger tomorrow as this report seldom meets our safe
trigger.
This report last met our medium trigger of 0.1% last month and
provided traders with up to 25 pips of profit, depending on
their entry. We recommended not to trade the medium trigger on
this because the Bank of England minutes data was coming out at
the same time. To see the video of last month’s trade, click
on the following link:
The next opportunity will be on the US Durable Goods report
that will be released at 8:30 am EST. We will be focusing on
the US Core Durable Goods figure, which is expected to be
0.0%. We will be looking for a deviation of 3.0% on this
report to trigger a safe trade. We have recently updated the
triggers to more conservative numbers as we have seen
diminished moves on this report in recent months.
This report last met our safe trigger last August, and we had
traders get in and report small profits or a small loss of up
to 10 pips. To see a video of August’s trade, 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 release to get my commentary on these potential trades.
Good Luck!!!!
