The Fundamental FOREX Blog

On Wednesday, 03-03-10 at 8:15 AM ET, the “USD ADP Non- Farm Employment change” was released by Automatic Data Processing, Inc.

I did a “preview” of this months report, posted on Tuesday, 03-02-10, click here for a review.

Let us check out what has happened:

USD ADP Non- Farm Employment change stats:

Previous = -22K—————revised = -60K

Forecast = -15K

Actual = -20K

Here is how I was set up and what happened:

USD-6-15AM-03-03-10
Looking for a 50K difference
Actual > Forecast = Good for USD
USD ADP Non-Farm Employment Change
——actual———-forecast———-previous
________________-15K________-22K
____-20K________ -15K_______ -60K
out at 35K or higher – BUY USDJPY
out at -65K or lower – SELL USD/JPY
Bad – “actual” came out lower then “forecast” by 5K
Good – “actual” came out higher then “previous” by 2K
Good – “actual” came out higher then revised “previous” by 40K

The “actual” and the “forecast” were not far enough apart to make a good trade – but the “actual” and the “previous” looked good for the USD. So, it was difficult to make any decision about a trade.

Here are the charts:

(EUR/JPY)

a one minute EUR/JPY chart

This EUR/JPY currency pair spiked up/down for 4 minutes about 17 PIPS/ 20 PIPS
Moved up next 37 minutes about 33 PIPS

(EUR/USD)

a one minute EUR/USD chart

This EUR/USD currency pair spiked up/down for 2 minutes about 5 PIPS/ 14 PIPS
Moved up next 39 minutes about 43 PIPS

(GBP/JPY)

a one minute GBP/JPY chart

This GBP/JPY currency pair spiked up/down for 4 minutes about 16 PIPS/ 31 PIPS
Moved up next 11 minutes about 17 PIPS

(GBP/USD)

a one minute GBP/USD chart

This GBP/USD currency pair moved down for 2 minutes about 17 PIPS
Moved up next 15 minutes about 23 PIPS

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair moved down for 22 minutes about 22 PIPS

(USD/JPY)

a one minute USD/JPY chart

This USD/JPY currency pair spiked up/down for 4 minutes about 13 PIPS/ 18 PIPS
Ranged!

The next ADP report is scheduled for Wednesday, 03-31-10 at 7:15 AM ET.

I will probably write a “preview” post a day or two before.

Stay tuned!