Discussion in 'Current Forex Trading Signals' started by Henry Liu, Mar 29, 2011.
The deviation that we are looking for the Australian Retail Sales m/m release is for a minimum of 0.6%. If we get a 1.0% (or better) we'll look to buy and if we get -0.3% (or worse), we’d look to SELL. There is a high probability of market movement of over 50 pips in the next 2 hours if we get our deviation.
Therefore, on a worse release, I'd expect some consolidation in the AUD... But on a better release, I'd expect the gains to be moderate as AUD is at extreme overbought level.
AUDUSD is a very slow moving currency pair. If the release hits our deviation, we may have to jump in sooner than later... We could see very little retracement, if any, if we get a huge surprise in the market.