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Forex Signal (Mon, May 31, 08:30 am EST) Canadian GDP m/m

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, May 30, 2010.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hi there,

    This is Crazy Cat writing.

    On Monday, May 31st at 08:30 am New York Time we will have Canadian GDP m/m coming out. It is expected to read 0.5. Last month it read 0.3.

    Please read what this indicator means and how it affects the USD/CAD by going to this link: http://www.forexpeacearmy.com/forex-forum/economic-indicator-descriptions/7676-canadian-gdp-m-m.html


    The trigger for this indicator is 0.2. This means that if Canadian GDP m/m comes out at 0.7 or higher, USD/CAD will probably go down by 30 pips or more in the first 45 minutes of the report. If it comes out at 0.3 or less, USD/CAD will probably go up by 30 pips or more in the first 45 minutes of the report.

    Obviously, the bigger the difference between expected and actual numbers, the bigger will be the move.

    This is not a big report to trade and sometimes a small deviation can move USD/CAD well, and sometimes big deviation does not move it at all. Consider it as a risky report to trade, even with a quite big trigger of 0.2

    We will also have US GDP coming out at the same time. The above triggers are valid only if US GDP comes as expected. If US GDP deviates, then it should also affect USD/CAD.

    To read the after-spike retracement strategy for this report click here: http://www.forexpeacearmy.com/forex...gdp-m-m-after-spike-retracement-strategy.html

    For example: on March 01st, Canadian GDP m/m came out at 0.6, versus an expectation of 0.4. USD/CAD went down by around 60 pips. See for yourself what happened on this chart: Forex news trading currency exchange charts

    I highly recommend you study the entire history and charts of this report by following this link: Forex News Trading | Details and History for CAD GDP m/m

    I hope you make some money on this report.
    -Crazy Cat
     
    #1 Crazy Cat, May 30, 2010
    Lasted edited by : Sep 8, 2016
  2. West Coast Pips

    West Coast Pips Sergeant

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    Just take note that the UK & US have a holiday Monday, May 31, 2010. This could mean the markets may not react properly.

    Please also note that US GDP was LAST Friday and therefore NOT coming out same time as CAD GDP.
     
  3. aficolee

    aficolee Recruit

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    hey crazy cat.
    how do i calculate the amount that gonna come out on the chart?
    you wrote 0.2 for the trigger,how do i do the follow up ? do i have to use some some of an indicator for this?.
    good day!
     
  4. bnbb2004

    bnbb2004 Recruit

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    Yes, I would like to know the same thing as to how to calculate the trigger #. TIA!
     

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