GBP/CAD Big Trade Orders 04.28.2016 – LIVE

Swing

5/2 -- Entry lowered to 1.8400, Triggered, Set target at 1.8375

GBP/CAD Big Trade Orders

Place Order to Sell GBP/CAD at 1.8410

Stop at 1.8610

Fundamentally we’ve seen strong gains in sterling and the Canadian dollar but recent economic reports show more underlying strength in the Canada vs. U.K. economy. Canadian retail sales are up, consumer prices increased, manufacturing activity accelerated, over 40k jobs were created in the month of March and the unemployment rate dropped to 7.1% from 7.3%. The U.K. in contrast has reported mostly weaker economic reports ranging from lower retail sales, employment and industrial production. So the downtrend in GBP/CAD should reman intact. Technically, GBP/CAD is one of our most successful ValueTrader currency pairs with only 1 loser this year. This strategy identifies ideal entries in the direction of the trend.

Canadian GDP numbers are scheduled for release on Friday and given the rise in retail sales, we believe the risk is to the upside for the report.

Economic Data Calls for 04.28.2016

Weekly Calendar Calls

Here’s what we are looking for in tomorrow’s economic reports (April 28, 2016) — Good Luck Trading!

1. New Zealand Rate Decision (17:00 NY Time) -- No Trade -- Its risky to trade rate decisions but there’s potential downside surprise given recent weakness in New Zealand data including trade and manufacturing activity

2. BoJ Rate Decision (0:00 NY Time) -- No Trade -- Its risky to trade rate decisions but there’s potential downside surprise given recent weakness in Japanese data including trade and manufacturing activity

3. GE Unemployment (03:55 NY Time) -- Bullish EUR -- Potential upside surprise given stronger employment component according to PMI

4. EZ Confidence (05:30 NY Time) -- Bearish EUR -- Potential downside surprise given lower IFO and ZEW

5. GE CPI (08:00 NY Time) -- Bullish EUR -- Potential upside surprise given higher wholesale and import prices

6. US Q1 GDP (08:30 NY Time) -- No Trade -- Weaker retail sales offset by slightly stronger trade