On Friday, 08-06-10 at 8:30 AM ET, the Bureau of Labor Statistics released the monthly reports of the USD Non-Farm Employment Change and Unemployment Rate.
These were released along with 1 other economic report:
USD Average Hourly Earnings (MoM)
This additional report should not have greatly affect the currency market.
I did enter 2 trades of the EUR/USD – both losers. I entered far too soon with a “stop loss” set a little tight.
The currency pair USD/JPY would have been a better trade!!
I did a “preview” post for this months release, click here for a review.
Here is how the reports are set up for this month:
USD Non-Farm Employment Change – Stats
Previous = -125K
Forecast = -59K
Actual = -131K
USD Unemployment Rate – Stats
Previous = 9.5%
Forecast = 9.6%
Actual = 9.5%
Here is how I was set up up and the results:
USD-8-30AM-ET-08-06-10
Looking for a 100K difference
Actual > Forecast = Good for USD
USD Non-Farm Employment Change
——actual——–forecast——–previous
_______________-75K_______-125K
______-131K____ -63K______ -221K
out at -206K or lower – BUY EUR/USD
out at -006K or higher – SELL EUR/USD
Bad – “actual” came out lower then “forecast” by 56K
Bad – “actual” came out lower then revised “forecast” by 68K
Bad – “actual” came out lower then “previous” by 6K
Good – “actual” came out higher then revised “previous” by 90K
USD Unemployment Rate
______9.5%______9.6% ______9.5%
Actual < Forecast = Good for USD
Good – “actual” came out lower then “forecast” by 0.1%
Neutral – “actual” came out same as “previous”
Here are the charts:
(EUR/JPY)
a one minute EUR/JPY chart
This EUR/JPY currency pair move down for 9 minutes about 83 PIPS
Move up for 43 minutes about 53 PIPS
(EUR/USD)
a one minute EUR/USD chart
This EUR/USD currency pair move up for 3 minutes about 43 PIPS – right direction
Move down for 3 minutes about 22 PIPS – wrong direction
2 losing trades!! – Stop-Loss a little too tight!
(GBP/JPY)
a one minute GBP/JPY chart
This GBP/JPY currency pair move down for 8 minutes about 109 PIPS
Move up for 14 minutes about 35 PIPS
(GBP/USD)
a one minute GBP/USD chart
This GBP/USD currency pair move up for 27 minutes about 70 PIPS – right direction
(USD/CAD)
a one minute USD/CAD chart
This USD/CAD currency pair moved up for 8 minutes about 52 PIPS – wrong direction
Moved down next 20 minutes about 39 PIPS – right direction
(USD/JPY)
a one minute USD/JPY chart
This USD/JPY currency pair moved down for 32 minutes about 98 PIPS – right direction
The next scheduled release of the two major reports is on Friday, 09-03-10 at 8:30 AM ET.
I will probably post a “preview” a day or two prior.
Stay tuned!
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