Hi there
This is Crazy Cat, with the review of the week.
This week, we were watching 6 economic indicators and 1 of them hit the trigger.
Friday, May 21, 08:30 am EST, CANADA
Canadian Retail Sales
The Core Retail Sales m/m came out 1.7 vs 0.4 expected, and Retail Sales m/m came out at 2.1 vs 0.1 expected so both of them deviated nicely. However, the price action was quite disappointing, and that's why I was very hesitant with my call on this report. In fact, I said that it would be OK to skip that report, and, in fact, last minute I decided not to trade it myself.
As we can see from the chart, the price spiked down by almost 30 pips but it reversed very quickly and USD/CAD was traded well above the prerelease price (which would be SL). If you made some money on this, congratulations; if you lost, well, things like this happen, and I admit it was a bad price action, especially that both numbers came out well better than expected.
Here is the chart:
Forex news trading currency exchange charts
Other than that, it was a very slow week.
Have a nice Sunday!
-Crazy Cat
This is Crazy Cat, with the review of the week.
This week, we were watching 6 economic indicators and 1 of them hit the trigger.
Friday, May 21, 08:30 am EST, CANADA
Canadian Retail Sales
The Core Retail Sales m/m came out 1.7 vs 0.4 expected, and Retail Sales m/m came out at 2.1 vs 0.1 expected so both of them deviated nicely. However, the price action was quite disappointing, and that's why I was very hesitant with my call on this report. In fact, I said that it would be OK to skip that report, and, in fact, last minute I decided not to trade it myself.
As we can see from the chart, the price spiked down by almost 30 pips but it reversed very quickly and USD/CAD was traded well above the prerelease price (which would be SL). If you made some money on this, congratulations; if you lost, well, things like this happen, and I admit it was a bad price action, especially that both numbers came out well better than expected.
Here is the chart:
Forex news trading currency exchange charts
Other than that, it was a very slow week.
Have a nice Sunday!
-Crazy Cat
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