LIVE ON THE NEWS TRADE OFFERS POTENTIAL OF 40-50 PIPS
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On our last trade call this morning we were watching the
Canadian CPI, looking for 0.2% in deviation. This release came
out with a deviation of 0.2%, so it met our safe trigger. We
had many traders report getting in this trade, with several
reporting profits of 40-50 pips or more on the USDCAD and
EURCAD. The chart for this trade is below. To view a video
of this live trade call, please click on the link below:
http://www.tradingliveonthenews.com/vid/CADCPI112007/
The USDCAD has had a hard time breaking the 0.9860 level, but
if it does we could see it make it to parity soon.
OUR NEXT LIVE FOREX TRADE CALL
Tomorrow we will have an opportunity to trade when the Canadian
Retail Sales report will be released at 8:30 am EST. We will
be focusing on the CAD Retail Sales Less Motor Vehicles (MoM)
figure, which will be Row 1 on the RSS. The expectation for
this report is 0.3%. We will be looking for a deviation of
0.4% 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 EUR/CAD, and a lower than expected number would be
bad for the CAD so that would signal a long on the USD/CAD and
EUR/CAD.
This release has met our safe trigger three out of the last
five months, and the market has moved anywhere from 30 to 70
pips each time. This release last met our safe trigger in
September. To see a video of September’s release, please 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 15 minutes prior to
the release to get my commentary on this potential trade.
Good Luck!!!
