US Prelim GDP q/q | November 29, 2016 | Forex Trading

Event Details At-A-Glance:
3.2%3.0%2.9%0.3%

US Prelim GDP q/qUS Prelim GDP release is the second release for the 3rd quarter of 2016, which is expected  to rise to 3.0% on further recovery and strong labor market.  If we get a strong reading today, we should see plenty of market reaction, especially considering NFP is scheduled this Friday.

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8:30am (NY Time) USA Prelim GDP q/q Forecast 3.0% Previous 2.9% (Adv. Q3 GDP)
DEVIATION: 0.3% (BUY USD 3.3% / SELL USD 2.7%)

The Trade Plan 
We are looking for a deviation between 0.3% from the forecasted figure of 3.0%. Therefore if we get a 3.3% on the second quarterly (Q3) 2016 GDP, it would be US Dollar positive. We will BUY USD. However, if we get a 2.7% release or worse, then we would be SELLING USD. We’ll be looking to trade this release based on my Retracement Trading Method; since this is a high impact release, strong market volatility is expected immediately after the release.

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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/

 

 

   

Outlook Score
Outlook score is derived from market sentiment, focus, and economic indicators for the currency. It represents the long-term trend of the currency and its market perception. In short, a strong Outlook Score means more long-term demand for the currency, and a weak Outlook Score is the opposite.

DEFINITION
“US Prelim GDP, which is defined (from wikipedia) as “the market value of all final goods and services produced within a country in a given period of time. It is also considered the sum of value added at every stage of production of all final goods and services produced within a country in a given period of time.” GDP number has a direct effect on the Interest rate of the currency, it is one of the news indicators that affects FOMC’s decision directly.”

Thanks,




Currency Pair Stats
Pair2H50+2H50RangeDirectionPN30PN60PN90Spike
AUDUSD23.7%29.2%3999.3%12172211
EURUSD54.7%70.8%5999.3%17242919
GBPUSD74.1%70.8%7299.3%22324020
NZDUSD15.7%12.5%3899.1%12172210
USDCAD50.4%33.3%5399.3%19263115
USDCHF56.8%45.8%6399.3%18263120
USDJPY27.3%16.7%4498.6%15202415
2H-50+ = % of 50+ pips move in 2hrs. | 2H-50 = % of 50+ pips move in 2hrs. for the last 2 years | Range = average range in 2 hrs. | Direction = % match following news direction | PN30 / PN60 / PN90 = average pips move before news release in 30, 60, or 90 mins. period | Spike = initial average spike
About Henry Liu

My name is Henry Liu and I am a Forex Trader and Mentor. I help traders achieve consistent income trading Forex while spending less time trading. My focus in trading is a combination of Fundamental Analysis, Technical Analysis, and Market Sentiment. Far too many retail Forex traders concentrate on just one aspect of trading, technical analysis, and ignore everything else; it is my goal (and vision) to educate every trader on how to take advantage of news trading and become more balanced traders.

You can find more information about me on my Google Profile.

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