TRADE CALL RECAP
Our last live trade call was Tuesday when we were watching the
UK Industrial Production report. We were looking to short the
GBPUSD if the number came out at least 0.5% worse than
expected. The number came out with a -0.4% deviation, so it
did not meet our safe trigger and we did not enter a trade. To
see the video of this trade, click on the link below:
OUR NEXT LIVE ON THE NEWS TRADE CALLS
Tomorrow we will have three opportunities to trade at two
different times when we have the Canadian Labor Force
Employment that will be released at 7:00 am EDT, and when both
the Canadian Trade Balance and the US Trade Balance reports are
released at 8:30 am EDT.
The Canadian Labor Change report at 7:00 am EDT is one of our
favorite releases as our safe trigger is often met and we get
some very good moves on this particular release. The
expectation for this report is 10k jobs. A higher than
expected number will be good for the CAD and signal a short on
the USD/CAD and EUR/CAD, and a lower than expected number will
be bad for the CAD and signal a long on the USD/CAD and
EUR/CAD. We will be looking for a deviation of 15k on this
report to trigger a safe trade.
This report has met our safe trigger in seven of the last
twelve months, and we have had traders report profits of up to
60-100 pips on each trade. This release last met our safe
trigger in August, and we had traders report profits of up to
50 pips on the USD/CAD and 85 pips on the EUR/CAD. To see the
video of August’s trade, click on the link below:
Next, the Canadian and US Trade Balance reports 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.
Our main focus will be on the Canadian Trade Balance, as we
typically see better moves if this release meets our safe
trigger. If you are only able to trade one currency pair with
your broker, you should trade the EUR/CAD for this release as
the US data is coming out at the same time. For this report,
the expected number is $4.4 Billion. 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 out of the last
twelve months, and the market has moved 20-35 pips each month.
This release last met our safe trigger in May and we had
traders report profits of up to 25 pips, depending on their
entries. We did not get a video of this trade, but to see a
video of April’s trade, click on the link below:
For the US Trade Balance, the expected number is -$59 Billion.
A higher than expected number (less negative) will be good for
the USD and signal a long on the USD/JPY and a lower than
expected number (more negative) will be bad for the USD and
signal a short on the USD/JPY. 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 three months and the
USD/JPY only moved approximately 15 pips each time, even with
very strong triggers. This is why we focus more on the
Canadian release.
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 these potential trades.
Good Luck!!!!
