I wanted to recap what we did on the last live trade call and give you the criteria for a possible trade tonight. The last trade call I sent out covered the UK Trade Balance report yesterday.
For the Trade Balance report, the plan was to go long on the GBP/USD if the release came out higher than expected by $700 Million or more from the expected number of -$6600 Million. The actual number came out with a deviation of +$309 Million, 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!
I have had many traders request triggers for AUD and NZD trades, and so I have started implementing new trading opportunities based on this feedback. There is another AUD news release coming out tonight at 9:30 pm EDT. The AUD Labor Force Employment Change is coming out, and is expected to be 15k jobs. I have set a safe trigger on the RSS for a deviation of 20k. We have seen moves of 20-40 pips on this release with a deviation of 20k and higher. I will not have the Live Trade Room open, but I wanted to make you aware of this potential trade opportunity.
OUR NEXT LIVE ON THE NEWS TRADE CALL
There is a promising trading day coming up tomorrow, with two opportunities for traders to take advantage of. Both of tomorrow’s trades have produced good results for our traders in the past.
First we will have the US Trade Balance which is expected at $60 Billion and will be released at 8:30 am Eastern. A higher than expected number would be good for the USD and would signal a short on the GBP/USD. A lower than expected number would be bad for the USD so that would signal a long on the GBP/USD.
I would like to see around $1.5 Billion in deviation to make sure that this is a good mover. In the past we have seen moves of 60+ pips with this deviation and higher. In 2007, we have had this report hit our safe trigger all but one month and seen moves of 10 to 25 pips. To see the video from the May report, click on the following:
We also have the Canadian Trade Balance report that will come out at 8:30 am Eastern. The Canadian Trade Balance is expected to be $5.5 Billion and we will look to trade the EUR/CAD since we have the US report coming out at the same time. I would like to see a deviation of $.5 Billion or more on this news release. This report has also met our safe trigger six out of the last seven months, and we have seen moves between 17 and 89 pips. To see the video from the March Canadian Trade Balance report, click on the following:
Good Luck!!!!
