CA Core Retail Sales is going to provide market volatility for the CAD but once again it is scheduled along with Core CPI so market’s attention is going to be divided, and in a worse case scenario, both figures contradicts each other, market is going to have a field trip with traders’ money as the market will go in whatever direction it wants.
However, with the long-term view in mind, we are going to “prefer” going long on CAD, especially against USD or JPY, as both of those currencies would work on a strong/weak CAD. At any rate, my focus is going to be more on the CPI than Retail Sales.
8:30am CA Core Retail Sales Forecast 0.4% Previous 1.5%
The Trade Plan
Let´s trade this release using my after-news retracement method. The idea is to wait for the release, then for market to spike first, and then wait for a decent retracement before getting in. For more details on my trading method: 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: USDCAD.
CA Core Retail Sales | July 21, 2017 | Forex News Trading
July 16, 2017 by Leave a Comment