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Forex Signal (Tue May 30 2011, 8:30am NY Time EST) - Canada GDP m/m

Discussion in 'Current Forex Trading Signals' started by Henry Liu, May 29, 2011.

  1. Henry Liu

    Henry Liu Former FPA Special Consultant

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    Canada’s monthly GDP report will be released today. Here’s the trading forecast:

    8:30am NY Time Canada GDP m/m Forecast 0.2% Previous -0.2%
    ACTION: USD/CAD BUY 0.0% SELL 0.4%

    The Trade Plan

    Let’s look to BUY USD/CAD if we get a 0.0% or lower release. Look to SELL USD/CAD if we get a 0.4% or higher. With recent uncertainty in the general market, a strong surprise in this GDP number may be the catalyst we need to see more volatility in CAD.

    For more information on my trading methods, please read:
    Henry Liu's Trading Method

    The Market
    Canada’s GDP is expecting to bounce back from last month’s negative rating. The BOC holds a positive outlook for the GDP due to last weeks encouraging reports. The Royal bank of Canada reported a 13% in profit increases for the first time in almost 4 years. As a result, a strong GDP should drive the Canadian dollar to a higher level. Don’t expect any change in interest hike expectations as markets are forecasting weak activity well into the second quarter.

    Additional Thoughts
    USD/CAD is my official pair for this trade, and this pair doesn’t give up retracement easily. In the event that we get a strong release, expect USD/CAD to spike, stall, and then spike again. We may see some limited retracement, if any. The strategy to trade this release is usually just get in as soon as possible and let it ride.

    Pre-news Possibilities:
    No Pre-news for this release…

    Definition
    GDP is defined (by wikipedia) as: “the market value of all final goods and services produced within a country in a given period of time. It is also considered the sum of value added at every stage of production of all final goods and services produced within a country in a given period of time.”

    Historical Chart and Data for CAD GDP m/m



    Thanks,



    [​IMG]
     
    #1 Henry Liu, May 29, 2011
    Lasted edited by : Sep 8, 2016
  2. Vishal Tangri

    Vishal Tangri Recruit

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    Delayed News

    Hi Henry Sir,
    My Name is Vishal Yangri,i m from India.I have been subscribed on your highly appreciated news both on FPA and News Profiteer.
    I have studied your several posts and tried to trade them but i was ALWAYS LATE.By time news arrived to me market had moved.I think it is because of my Brokers News wires.
    I have account with Liteforex and Instaforex.Instaforex just don't update news or update it after 5 minutes.Liteforex update it after 30-40 secs in thier platform but that too is late as marked had already shown reaction.
    .Plz help me ,plz suggest me any good source of NEWS .or i need to change my brokers.in that case can u suggest any broker with fastest news update.
    Plzzzzz henry sir help me I am just tired of losing opportunities.
    Yours Hopefully
     
  3. josiahemmy

    josiahemmy Private

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    @ Vishal, I understand how you feel, I've been working with Mr. Henry's Analysis for more than two years now and they are very profitable to me. This I do without the help of my Broker (InstaForex) I just launch this site (www.forexrfactory.com), adjust the website time to my computer's time, then I follow the activities daily. Also there are tv channels like bloomberg and so on, but they concentrate on mostly Major news. I hope this helps.

    Pls show your appreciation to Mr. Henry, for his committment towards his analysis.
     
  4. Vishal Tangri

    Vishal Tangri Recruit

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    Thanks

    Thanks Josia for your help.Forex factory is really good.I have sync the website time with my computer's time.Again thanks for support.Meanwhile i have also found another website offering same service-http://www.dailyfx.com/calendar/
    Hopefully now i can trade news.
    And i really appreciates Mr Henry's work.He just rocks.:):)
     
  5. DaveO

    DaveO Private, 1st Class

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    Vishal,

    You should not attempt to trade the first spike on any news event. That is only for very experienced traders and needs ultra fast news feed which costs money. If you have trouble with the forex factory being slow in heavy traffic you can subscribe to a forex squawk box service for as little as £20 ($33) per month.

    You should study "trading after the spike" methodology. This will give you a little time to think.

    Good luck,
    David.
     
  6. gudule95

    gudule95 Recruit

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    Pffff

    HI,

    I think that when there is a good news whatever $cross the $ is the beneficiary of the good news.... :unhappy:
     

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