The Australian Employment Change release today is highly focused release which gives a glimpse into current Australian economy. A strong release with full-time employment is obviously positive for the AUD, therefore we’d only take a trade if and when we get to our tradable deviation.
8:30pm (NY Time) AU Employment Change Forecast 20.3K Previous -6.4K
The Trade Plan
We´ll look to trade this using after news retracement trading method, we´ll wait for the market to retrace and stay out of the market during the release time. If we get a +45.3K of release, our bias will be to BUY AUD against other currencies; if we get a -4.7K of release, our bias will be to SELL AUD against stronger currencies. We´ll only enter after we see a decent retracement from the initial spike and if we get those release numbers…
For more information on my trading methods: http://www.currencynewstrading.com/how-to-get-started-with-news-trading/
I’d recommend to use the Recommended Pairs from above as they are based on my CSM, which should provide the best combination of currency pairs to trade based on better/worse news… of course, you can also trade the default pair: AUDUSD.
AU Employment Change | April 12, 2017 | Currency Trading News
April 10, 2017 by Leave a Comment