Forex News Trading: Trades for Tuesday, May 12, 2020

I was helping my son move today and forgot about this.

8:30 AM EDT
US CPI
XAU/USD

The forecast is for -0.7% which is insanely high. But don’t expect any movement even if they miss badly. The hope here is that the numbers start getting less bad.

SETTINGS: Set buy/sellPips to maybe 12 or so. Whether you get in or not, get out fast.

10:00 PM
NZD Official Cash rate
NZD/USD

Their rate is at 0.25%. New Zealand has restarted their economy. They are expecting the economy to rebound and it wouldn’t surprise me to see them start raising the rate slowly back to where it was. Might not start tomorrow night since things just reopened and they need to see how quickly things start getting back to normal.

SETTINGS: Set buy/sellPips to 35 and get out if there is not a huge spike within a couple seconds.

About Barry Battista

I am a software guy that started trading in 2006. I have been trading the news for a living ever since. Eventually I wrote some code to help a friend and I improve our odds, and gradually the software took on a life of its own. My intention is to adapt this trading style to the ever changing Forex markets to always provide the trader with the tools and information to give them the maximum odds of a profitable trade.
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