By Darrell Martin
Be ready to trade the AUD/USD Monday, February 2, 2015 as the Australian Bureau of Statistics will be releasing numbers on their Building Approvals and Trade Balance.
Both of these reports affect currency in a positive way when the actual numbers are above what was forecast. Both reports are planned for release at 7:30 PM EST.
An Iron Condor is great for this news event entering as early as 6:00 PM EST for an 11:00 PM EST expiration. Using Nadex Spreads look for a lower spread to buy with the ceiling price at the then current underlying market price.
You will also need an upper spread to sell with the floor price at the then current underlying market price. Once you have both spreads you will have your Iron Condor set up. You want to have a minimum profit potential of $35. If you can’t find spreads with at least that minimum then there is no trade.
The Building Approvals report in Australia gives the number of the change in new building approvals issued. This is significant to the markets because of it being an excellent gauge of future construction, since an approval is the first step to new construction.
Construction creates jobs from workers to sub-contractors and inspectors. The Trade Balance report in any country’s economy is significant.
In Australia this report measures the export demand and currency demand, and impacts production and prices for domestic manufacturers. This report is also sometimes called International Trade in Goods and Services.
As mentioned earlier the reports come out at 7:30 PM EST. Be sure to get set up at 6:00 PM EST. Once the report comes out, the estimated movement as determined through analyzing back 24 months of these news reports, is around 35 pips, then pulling back.
If price settles in the center between your Iron Condor, then you will have the highest profit. Apex Investing analyzes planned news events for consistent moving markets and consistent numbers moved.
That information is then used to look for a trading strategy with a high probability for profit.
A complete monthly news plan is available at Apex, to trade a variety of markets based on numerous news events. If you would like to learn more on how to trade Iron Condors or trade other news events, go to www.apexinvesting.com. Apex Investing Institute offers free education and free access to the Nadex Binary and Spread Scanner Analyzers. Member traders are invited to trade in the rooms, take advantage of trade signal services, have key indicators and access the Apex Forum. The forum content is updated daily and includes over 10,000 members. In a supportive learning community of seasoned as well as up and coming traders, traders of all levels learn how to trade Nadex binaries and spreads in depth, as well as futures, forex, stock and options, and gain an edge for successful trading overall.