AU Retail Sales release may provide a tradable opportunity as traders await tomorrow’s NFP Employment report. Obviously, with such a high impact release scheduled in under 12 hours, the key to trade AUD is to get in and out, not to get greedy.
Additionally, with AUD’s upward trend picking up momentum, I would rather be buying AUD than selling it.
9:30pm NY Time AU Retail Sales Forecast 0.2% Previous 0.6%
The Trade Plan
We´ll be looking for an after-news retracement trade and we´ll do the 3 W´s. Wait for the deviation, Wait for the market to move with momentum first, and Wait for a decent retracement. For more information on my trading methods, please read: http://www.currencynewstrading.com/how-to-get-started-with-news-trading/
I’d recommend to trade the Recommended Pairs above as they are based on my CSM and should provide you with an edge by pairing up the best currencies to trade in the event of a good/bad news. Of course, you can also trade the default pair: AUDUSD
AU Retail Sales | August 3, 2017 | Currency Trading
July 31, 2017 by Leave a Comment