I wanted to recap what we did on the last live trade call and give you the criteria for a possible trade tonight and tomorrow. The last trade call I sent out covered the US Durable Goods report this morning.
For the Durable Goods report, the plan was to go long on the GBP/USD if the release came out lower than expected by 1.5% or more from the expected number of 0.6%. The actual number came out with a deviation of -1.1%, 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!
There is another NZD news release coming out tonight at 6:45 pm EDT. The NZD Merchandise Trade Balance is coming out, and is expected to be -$.299 Billion. We have set a safe trigger on the RSS for a deviation of $.5 Billion. This trigger has only been hit four times since the beginning of 2005, and it has provided a move of around 25 pips when it was hit. We will not have the Live Trade Room open, but we wanted to make you aware of this potential trade opportunity.
OUR NEXT LIVE ON THE NEWS TRADE CALL
Our next Live on the News trade call will be on the US GDP Report that will be released tomorrow at 8:30 am EDT. We will be focusing on the Annualized GDP (QoQ) figure. The expected number for this report is 3.2%. 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 0.4% on this report to trigger us into a trade.
The last time this report hit our safe trigger was back in April and provided a 25-30 pip move. To see the video of April’s trade click on the following link:
Good Luck!!!!
