I would like to recap what we did on the last live trade calls and give you the criteria for two potential trades tonight and tomorrow.
The last trade call I sent out covered the US and Canadian Trade Balance reports this morning. Our focus was more on the Canadian Trade Balance as the US Trade Balance had not provided consistent moves in recent months, even with strong deviations. For the Canadian Trade Balance, we were looking for a deviation of $0.8 Billion to trigger a trade. The actual deviation was $0.4 Billion, so we did not enter this trade. The US Trade Balance came out stronger than expected by $1.4 Billion, just missing our safe trigger of $1.5 Billion. Due to technical difficulties this morning, we are not able to provide a video of these trades.
TRADING OPPORTUNITY TONIGHT There is an opportunity to trade tonight when the NZD Retail Sales report is released at 5:45 pm EDT. Your focus should be on the Retail Sales All figure, which will be Row 1 of the RSS and is expected to be 0.4%. We have placed a safe trigger of 0.3% for this release. This report has met our safe trigger the last seven months and has provided moves of 20-40 pips each time. We will not have the Live Trade Room open for this trade, but I did want to make you aware of the opportunity.
OUR NEXT LIVE ON THE NEWS TRADE CALL
We will have an opportunity to trade tomorrow when the US Retail Sales release comes out at 8:30 am EDT. Our focus for this release is the Retail Sales Less Autos figure, which will be Row 1 and is expected to be 0.3%. A higher than expected number will be good for the USD and signal a short on the GBP/USD and a lower than expected number will be bad for the USD and signal a long on the GBP/USD. We will be looking for a deviation of 0.5% on this report to trigger a safe trade. This report has met our safe trigger four out of the past five months. This report met our safe trigger last month, and we had traders get in and report profits of 10-30 pips.
To see a video of last month’s trade, click on the link below:
This is our current outlook for this trade; 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 release to get my commentary on the trades.
Good Luck!!!!
