U.S. Trade Balance (For December 2006) How to Trade the Release
[U][B]What is Expected
[/B][/U] Time of release: 8:30 AM EST 13:30 GMT 2/13/2007 Time of press conf: 8:30 AM EST 13:30 GMT 2/13/2007 Consensus expectation: -$59.5B Prior reading: -$58.2B Primary Pair Impact: EURUSD
How To Trade This?
As always, the general rule of thumb in trading event risk is to wait at least 5 minutes before putting the trade on in order to observe if the market price responds to the fundamentals. In the case of the Trade Deficit that principle is double important as markets often probe the price levels only to quickly reject them. Therefore it is critical to see that candles do not leave long wicks before considering a trade.