There will be an opportunity for trading pullbacks in the U.S. real estate market again tomorrow evening.
The data on New Home Sales (MoM) and New Home Sales, the events that showed significant results in the pullback trading, will be updated at 5:00 p.m. Moscow time.
New Home Sales in the U.S. are expected to decrease. If expectations are realized, the pressure on the U.S. dollar probably will increase.
Any currency pair with the U.S. dollar can be taken as a trading instrument.
Let's consider the USDCHF mid-volatility currency pair today.
Fundamentally, the Swiss economy today looks slightly more attractive compared to the U.S. economy, which favors a potential decrease in the USDCHF pair and matches the probable direction of the pair after the real estate market data publication.
Entry-Exit Options (M15 timeframe):
1. Real estate market indicators will decrease in comparison with the previous period:
* Set the order SellLimit on the USDCHF pair graph at a distance of 0.2 - 0.25% from the price in the moment of the statistical data update.
* Set the Take profit at the level of the price in the moment of data release or a little bit higher.
Or leave the market at the closing after 8 hours of trading since the deal opening.
* Put a protective order above the previous day's High quotation.
If the order on the position opening will not work within 8 hours, also delete it.
2. Real estate market indicators will increase in comparison with the previous period:
* Set the order BuyLimit on the USDCHF pair graph at a distance of 0.2 - 0.25% from the price in the moment of the statistical data update.
* Set the Take profit at the level of the price in the moment of data publication or a little bit lower.
Or leave the market at the closing after 8 hours of trading since the deal opening.
* Put a protective order below the previous day's Low quotation.
If the order on the position opening does not work within 8 hours, delete it.
3. Real estate market indicators have not changed or are differently directed in comparison with the previous period:
* Refrain from trading.
Remember to consider the spread and follow money management rules!
Warning!
Financial market trading is inherent in high level of risk and can cause loss of investment capital. MarketCheese team is not responsible for the possible loss of your investment funds.
This content is for informational purposes only and is not intended to be investing advice.
