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 US ISM Manufacturing report yesterday morning. For this release, we were looking to buy the GBP/USD if the number came out at least 2.0 lower than the expected number of 52.6. The actual number came out with a deviation of -.6, so our safe trigger was not met and we did not enter the trade.
TRADING OPPORTUNITY TONIGHT
There is an opportunity to trade tonight when the AUD Retail Sales and Trade Balance reports are released at 9:30 pm EDT. Your focus should be on the AUD Retail Sales (MoM) figure, which will be Row 1 of the RSS and is expected to be 0.3%. We have placed a safe trigger of 0.5% for this release. We have historically seen moves of around 25 pips when this release has had a deviation of 0.5% or higher. You will need to be careful as the AUD Trade Balance figure will be released at the same time. It could impact the move if it is in conflict with the Retail Sales figure. In the past when the two have been in conflict, the market has moved the direction of the Retail Sales figure, but it has diminished the move.
We will not have the Live Trade Room open for this trade, but I wanted to make you aware of the opportunity.
Good Luck!!!!
