I wanted to recap what we did on the last live trade call and give you the criteria for some potential trades tonight and tomorrow.
The last trade call I sent out covered the Canadian Retail Sales report last Friday. For the CAD Retail Sales Less Autos report, our plan was to go long on the USD/CAD or EUR/CAD if the release came out lower than expected by 0.4% or more from the expected number of 0.3%. The actual number came out with a deviation of -0.6%, so our trigger was hit and we entered this trade. We had several traders report profits of up to 29 pips on this trade.
To see the video of the trade click on the following link:
TRADING OPPORTUNITY TONIGHT
There is an opportunity to trade tonight when the NZD Trade Balance report is released at 6:45 pm EDT. Your focus should be on the NZD Merchandise Trade figure, which will be Row 1 of the RSS and is expected to be -$900 Million. We have placed a safe trigger of $500 Million for this release. We will not have the Live Trade Room open for this trade, but we did want to make you aware of the opportunity.
OUR NEXT LIVE ON THE NEWS TRADE CALLS
We will have a busy day tomorrow as we will have two news reports coming out. The first is the UK GDP report that will be released at 4:30 am EDT. The expected number for this report is 0.8%. 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 a safe trade. This particular report seldom meets our safe trigger; however, we have seen some good moves when it has met our medium trigger. The last three times it has met our medium trigger the market has moved 18-30 pips. The last time it met our medium trigger we had a 30 pip move in July.
To see the video of July’s trade click on the following link:
The next report is the US Durable Goods report, which will be released at 8:30 am EDT. For the US Durable Goods New Orders, which will be Row 1, the expected number is 0.6%. 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 1.5% on this report to trigger a safe trade. Last month this report met our safe trigger, and we had traders get in and report small profits or a small loss of up to 10 pips.
To see a video of last month’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 releases to get my commentary on the trades. Good Luck!!!!
