This is JCLyons Signal ReviewTeam writing.
On Friday, April 23rd (07:00 am New York Time) we will have Canadian Core CPI m/m coming out. It is expected to read 0.0. Last month it read 0.7.
Please read what this indicator means and how it affects the USD/CAD by going to this link: Canadian CPI
The trigger for this indicator is 0.3. This means that if Canadian CPI m/m comes out at 0.3 or higher, USD/CAD will probably go down by 40 pips or more in the first 45 minutes of the report. If it comes out at -0.3 or negative, USD/CAD will probably go up by 40 pips or more in the first 45 minutes of the report.
This used to be quite unreliable report so be careful. I will be very careful myself. Sometimes the price moves nicely, some other time it does not react at all. I prefer higher probability reports to trade as my time is very limited.
Last month it actually worked really nice. It came out at 0.7 vs. 0.3 expected, and USD/CAD spiked down by 70 pips. This was amazing. But still be careful as not long time ago it had really random price actions. Here is the chart:
Forex news trading currency exchange charts
I highly recommend you study the entire history and charts of this report by following this link: Forex News Trading | Details and History for CAD Core CPI m/m
I hope you will not lose money on this report.
JCLyons Review Team
Thursday, April 22, 2010
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