Because this is the first quarterly release for the 3rd quarter of 2016, we are likely to see plenty of market reaction, but since we are expecting potential rate hikes at the end of this year, a stronger reading could definitely support the USD, and vice versa on a weaker reading.
Here is the forecast for the US Adv. GDP q/q (Q3 2016)
8:30am (NY Time) US Advanced GDP q/q Forecast 2.5% Previous 1.4% (Final 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:
US Advanced GDP (Q3) | October 28, 2016 | Currency News Trading
October 24, 2016 by Leave a Comment