US Core Retail Sales is a high impact tradable release and should provide a good opportunity to trade if we get our tradable deviation. Considering the June reading of employment came in at 222K, today’s retail sales should reflect an uptick in readings as well, unless there is an anomaly with employment correlating with spending (retail).
At any rate, despite of the expectation for strong readings, I would still recommend to follow the trade plan below.
Here´s the forecast:
8:30am (NY Time) US Core Retail Sales Forecast 0.5% Previous 0.5%
The Trade Plan
We will trade this news release using after news retracement method, I will pay attention to both headline and Core Retail Sales figures, but my focus will be on the Core figure. Remember to use the recommended pair above and verify the pairs to trade 1 minute before the release, or you can just use the default pair of USDJPY or EURUSD.
For more information 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: EURUSD.
US Core Retail Sales | September 15, 2017 | Forex Trading
September 10, 2017 by 1 Comment