The Fundamental FOREX Blog

On Wednesday, 09-01-10 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, 08-31-10, click here for a review.

Let us check out what happened:

USD ADP Non- Farm Employment change stats:

Previous = 42K—————revised = 37K

Forecast = 20K

Actual = -10K

Here is how I was set up and what happened:

USD-8-15AM-ET-09-01-10
Looking for a 50K difference
Actual > Forecast = Good for USD
USD ADP Non-Farm Employment Change
——actual———-forecast———-previous
________________20K________42K
____-10K________ 20K_______ 37K
out at 70K or higher – BUY USD/JPY
out at -30K or lower – SELL USD/JPY

Bad – “actual” came out lower then “forecast” by 30K
Bad – “actual” came out lower then “previous” by 52K
Bad – “actual” came out lower then revised “previous” by 47K

I did enter a trade of the USD/JPY currency pair this time – 1 win!!

Here are the charts:

(EUR/JPY)

a one minute EUR/JPY chart

This EUR/JPY currency pair moved down for 3 minutes about 45 PIPS
Moved up next 14 minutes about 74 PIPS

(EUR/USD)

a one minute EUR/USD chart

This EUR/USD currency pair moved down for 3 minutes about 11PIPS – wrong direction
Moved up next 55 minutes about 65 PIPS - right direction

(GBP/JPY)

a one minute GBP/JPY chart

This GBP/JPY currency pair moved down for 3 minutes about 56 PIPS
Moved up next 48 minutes about 95 PIPS

(GBP/USD)

a one minute GBP/USD chart

This GBP/USD currency pair moved down for 6 minutes about 17 PIPS – wrong direction
Moved up next 52 minutes about 103 PIPS – right direction

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair ranged for 5 minutes
Moved down for 53 minutes about 43 PIPS – right direction

(USD/JPY)

a one minute USD/JPY chart

This USD/JPY currency pair moved down for 3 minutes about 34 PIPS – right direction
Moved up for 17 minutes about 33 PIPS – wrong direction
1 winning trade!

The next ADP report is scheduled for Wednesday, 10-06-10 at 8:15 AM ET.

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

Stay tuned!