I wanted to recap what we did on the last live trade call and give you the criteria for a possible trade tomorrow.
The last trade call I sent out covered the UK Retail Sales report last Thursday. For the UK Retail Sales report, we were looking to buy the GBP/USD if the number came our at least 0.4% higher than expected. The actual number came out with a deviation of 0.6%, so it met our safe trigger and we entered the trade. We had many traders report profits of between 10-20 pips on this trade.
To view the video of this trade click on the link below:
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we will have two opportunities to trade when the Canadian CPI and Retail Sales reports are released. First up will be the Canadian CPI, which will be released at 7:00 am EDT. We will be focusing on the Core CPI MoM figure, which will be Row 1 on the RSS.
The expectation for this report is 0.1%. We will be looking for a deviation of 0.2% to trigger a safe trade. A higher than expected number would be good for the CAD and would signal a short on the USD/CAD, and a lower than expected number would be bad for the CAD so that would signal a long on the USD/CAD.
Last month this trade met our medium trigger and we had traders report profits of 20-25 pips on the USD/CAD and a 30-45 pips on the EUR/CAD.
To view the video of this trade click on the link below:
Next will be the Canadian Retail Sales report, which will be released at 8:30 am EDT. We will be focusing on the Retail Sales Less Autos MoM figure, which will be Row 1 on the RSS at the time this news is released. The expectation for this report is -0.3%.
We will be looking for a deviation of 0.3% to trigger a safe trade. A higher than expected number would be good for the CAD and would signal a short on the USD/CAD, and a lower than expected number would be bad for the CAD so that would signal a long on the USD/CAD.
Last month this trade met our safe trigger and we had traders report profits of 35-50 pips on the USD/CAD and a 40-70 pips on the EUR/CAD. We even had one trader who reported nearly $40,000 in profit on this trade!
To view the video of this 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 these potential trades. Good Luck!!!!
