The Fundamental FOREX Blog

On Wednesday, 08-04-10 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, 08-03-10, click here for a review.

Let us check out what happened:

USD ADP Non- Farm Employment change stats:

Previous = 13K—————revised = 19K

Forecast = 36K—————revised = 38K

Actual = 42K

Here is how I was set up and what happened:

USD-8-15AM-08-04-10
Looking for a 50K difference
Actual > Forecast = Good for USD
USD ADP Non-Farm Employment Change
——actual———-forecast———-previous
________________36K________13K
_____42K _______38K ________19K
out at 86K or higher – BUY USD/JPY
out at -14K or lower – SELL USD/JPY
Good – “actual” came out higher then “forecast” by 6K
Good – “actual” came out higher then revised “forecast” by 4K
Good – “actual” came out higher then “previous” by 29K

Good – “actual” came out higher then revised “previous” by 23K

I did not enter a trade this time!!

Here are the charts:

(EUR/JPY)

a one minute EUR/JPY chart

This EUR/JPY currency pair moved up for 14 minutes about 44 PIPS

(EUR/USD)

a one minute EUR/USD chart

This EUR/USD currency pair moved up for 14 minutes about 15 PIPS
Moved down for 14 minutes about 23 PIPS

(GBP/JPY)

a one minute GBP/JPY chart

This GBP/JPY currency pair moved up for 14 minutes about 45 PIPS

(GBP/USD)

a one minute GBP/USD chart

This GBP/USD currency pair ranged for 20 minutes.

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair moved down for 15 minutes about 22 PIPS

(USD/JPY)

a one minute USD/JPY chart

This USD/JPY currency pair moved up for 57 minutes about 37 PIPS

The next ADP report is scheduled for Wednesday, 09-01-10 at 8:15 AM ET.

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

Stay tuned!