US 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.
8:30am (NY Time) USA Prelim GDP q/q Forecast 3.0% Previous 2.9% (Adv. Q3 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 | November 29, 2016 | Forex Trading
November 28, 2016 by Leave a Comment