US Prelim GDP release is the second release for the 1st quarter of 2016, which is expected to rise from the 0.5% reading on the advanced release. With the Fed taunting of a “live” meeting in June, any stronger than expected surprise should add to that sentiment.
8:30am (NY Time) USA Prelim GDP q/q Forecast 0.8% Previous 0.5% (Adv. Q1 GDP)
The Trade Plan
I’d recommend to use the Recommended Pair above as it is based on my strength meter by pairing up the best currencies in the event of a better/worse news… or you can just use the default pairs for this news: USDJPY or EURUSD
We’ll be trading this release using an after-news retracement method. For more information on my trading methods, please read: http://www.currencynewstrading.com/how-to-get-started-with-news-trading/
US Prelim GDP q/q | May 27, 2016 | Forex Trading
May 23, 2016 by Leave a Comment