TRADE CALL RECAP
This morning we were watching the UK Industrial Production
report, and looking for a safe trigger of 0.5% to enter a long
on the GBP/USD. The actual number came out with a deviation of
0.2%, so we did not enter this trade. To see the video from
this trade, click on the link below:
TRADE OPPORTUNITY TONIGHT
There will be an opportunity to trade tonight when the
Australian Labor Force Employment report is released at 9:30 pm
EDT. The expectation for this report is 10k jobs. We have
placed a safe trigger of 20k for this release. When this
report has met our safe trigger in the past, the AUDUSD has
moved between 25 and 40 pips each time. We will not have the
Live Trade Room open, but I wanted to make you aware of this
potential trade opportunity.
OUR NEXT LIVE ON THE NEWS TRADE CALLS
The next LOTN trades will be tomorrow when the Canadian Trade
Balance and the US Trade Balance reports will both be released
at 8:30 am EST. With the RSS software, we will have the
ability to trade both of these releases across multiple
currencies.
Our main focus will be on the CAD Trade Balance, as we
typically see better moves if this release meets our safe
trigger. If you are only able to trade one currency pair with
your broker, you should trade the EUR/CAD for this release as
the US data is coming out at the same time. For this report,
the expected number is $3.3 Billion. A higher than expected
number will be good for the CAD and signal a short on the
EUR/CAD, and a lower than expected number will be bad for the
CAD and signal a long on the EUR/CAD. We will be looking for a
deviation of $0.8 Billion on this report to signal a safe
trade.
This report has hit our safe trigger four out of the last seven
months, and the market has moved 15-35 pips each month. This
release met our safe trigger in February and we had traders
report profits of up to 15 pips, depending on their entries.
To see a video of February’s trade, click on the link below:
For the US Trade Balance, the expected number is -$57.5
Billion. A higher than expected number (less negative) will be
good for the USD and signal a long on the USD/JPY and a lower
than expected number (more negative) will be bad for the USD
and signal a short on the USD/JPY. We will be looking for a
deviation of $1.5 Billion on this report to trigger a safe
trade. This report just missed our safe trigger last month,
and the USD/JPY moved approximately 80 pips compared to the
GBP/USD only moving about 20 pips. This is why you should
focus on the USD/JPY for this report.
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!!!!
