Because this is the first quarterly release for the 4th quarter of 2017, we are likely to see huge market reactions today, especially if we get at least 0.2% of deviation. Considering the first release is most likely to surprise the market, I’d sit on the sidelines and stay out of the market until after the news.
Obviously, I’d recommend not to go against the trend, as USD has been under pressure lately. With the market still not too positive over the USD, I will only BUY if we have a strong reason to.
Here is the forecast for the US Adv. GDP q/q (Q4 2017)
8:30 am (NY Time) US Advanced GDP q/q Forecast 3.0% Previous 3.2% (Final Q3 GDP)
The Trade Plan
I’d recommend using 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:
US Advanced GDP (Q4) | January 26, 2018 | Currency News Trading
January 21, 2018 by Leave a Comment