Two important reports will be released Tuesday at 7:30 p.m. ET for Australia: Retail Sales and Trade Balance. The Australian Bureau of Statistics releases the change in total retail sales monthly about 35 days after the month to which it pertains. The Trade Balance is also released monthly around the same time. It gives the difference in value between the imported and exported goods and services. If the number is positive then more were exported than imported. Export demand is linked with the nation’s currency demand because foreigners must pay for goods and services in the domestic currency and must purchase the currency first to do so.

For an Iron Condor strategy, you want to buy the lower ranging spread and sell the upper ranging spread. You want your lower bought spread’s ceiling to meet the floor of your upper sold spread’s floor where the market is trading at the time. Below you can see Nadex AUD/USD Spreads listed in the spread scanner. Also, to the far left and far right you can see the current potential risk/reward bars with numbers. Your profit or reward potential should be $30 or more combined between the spreads. Each spread you choose should have around a $12 - $15 reward potential.

The advantages with the Iron Condor strategy are the wide range the market can move and your trade is still in a 1:1 risk reward ratio. This also means the market doesn't need to move much and you profit as well. One side or leg of your trade may profit first if the market reacts and moves in one direction. When it pulls back, the other side may profit. Depending on where your exact entries are with this trade setup, the market can move up or down around 15 pips and you will profit on one side. If the market moves further and goes up or down 30 pips, then your trade is at breakeven. The wide range allows the market to move up or down 60 pips and your trade is still at a 1:1 risk reward ratio. This is where you should set your stops or call the trade, again, depending on where you placed your entries exactly.