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7:30pm (NY Time) AU Retail Sales m/m Forecast 0.5% Previous 0.9%
ACTION: AUD/USD BUY 1.1% SELL -0.1%
The plan for this release is to look for a deviation of 0.6% from the forecast release of 0.5%. Therefore, if we get a 1.1% or -0.1%, we’d have our trigger to get in either on a LONG or SHORT trade depending on the release, with a high probability of seeing the market moving over 50 pips in the next 2 hours.
[flv:http://www.newsprofiteer.com/101209-nzdretail/101209-nzdretail.mp4 480 360]
5:45pm (NY Time) NZ Retail Sales Forecast 0.6% Previous -0.5%
ACTION: NZD/USD BUY 1.2% SELL -0.1%
This is the measurement of consumer spending in the retail sector, as it reflects the strength of the economy and the pace of the recovery. We’ll be looking for a deviation of at least 0.6% from the consensus, therefore a positive 1.2% will be bullish signal for NZD, or a -0.1% will be a negative signal for NZD. We’ll look for entries after the release in the direction of the signal, provided that the market shows initial confirmation in the direction of the release first, coupled with a decent retracement for proper risk to reward ratio, then we’ll make our entry.
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