How To Trade Existing Home Sales News Using Nadex Spreads

Monthly, the US Existing Home Sales number is released and makes for a trade opportunity on the EUR/USD.

An Iron Condor strategy, based on derivatives of the actual underlying EUR/USD market, is one potential strategy. North American Derivatives Exchange or Nadex, offers spread and binary derivatives for a variety of markets for stock indices, forex and commodities which can be traded from 49 different countries. 

This news is released Wednesday, April 22, 2015, at 10:00 AM ET.

Therefore, traders can enter the trade as early as 9:00 AM ET for an 11:00 AM ET expiration.

Market Can Move In Either Direction. Iron Condor Is Set Up for Profit Potential

Existing Home Sales is reported as an annualized number which means taking the number of residential buildings that were sold during the previous month and then multiplying it by 12.

If the actual number announced is greater than forecast, it’s good for currency. However, with the Iron Condor setup, it doesn’t matter which way the market will go after the announcement.

Either direction, the Iron Condor is set up for profit potential.