US Prelim GDP release is the second release for the 2nd quarter of 2016, which is expected to drop from the 1.2% reading on the advanced release. With recent employment figures turning for the better, a stronger GDP reading could spark another round of USD strength buys.
8:30am (NY Time) USA Prelim GDP q/q Forecast 1.1% Previous 1.2% (Adv. Q2 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 | August 26, 2016 | Forex Trading
August 25, 2016 by 1 Comment