Friday, July 29, 2011

[Trading The News] U.S GDP Advance GDP q\q on 29/07/2011

The U.S Advance GDP q\q data is one of the most important piece of data as it has a signficant impact on the forex market and how the market will move with it. The forecast for the GDP is as follows :

U.S Advance GDP q\q
Forecast : 1.9%
Previous : 3.9%

I will be looking at a deviation of > 0.4% before my trade would be entered. Therefore, if we get a figure of 1.5% and below, we will be looking to buy EUR/USD with a TP of more than 100 pips (your choice here). If the numbers looks good, > 2.3 , a SELL option would be your only choice. However, we would be looking into other pairs for sell options (GBP,JPY) rather than the Euro for the best bang for pips.

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