Sir Pipsalot
Former FPA Special Consultant
- Messages
- 511
Hey folks,
Nothing new to add on the trend front on stocks or EUR/USD. Right now we're just waiting for these consolidation ranges to break to either confirm or refute the downwards biases. Please see recent signals for information on the my downwards bias on both.
In news Thursday, we had little tradable data with both interest rate statements pretty much as expected. In news Friday:
0700 CAD Employment (12.5K expected) - CAD Employment can often hit very large deviations and create very strong moves. Just cross your fingers and hope for another big deviation like last month. Even a moderate 20-30K deviations should be good for 40-50 pips though.
If it comes out at 35K or higher, USD/CAD should fall 40+ pips.
If it comes out at -10K or lower, USD/CAD should rally 40+ pips.
0830 US NonFarm Payrolls and Unemployment Rate (-65K and 9.6% expected) - Be very careful to look out for conflicts between these two numbers or with revisions. Last month when NFP came out 50K worse, but Unemployment Rate came in 0.2% better, there was quite a whipsaw and little ultimate move. That being said, if they agree the move could be quite large. I think USD/JPY is the way to go on this one.
--If NFP comes out at 125K or higher and Unemployment Rate comes in as expected or low, USD/JPY should rally 50+ pips.
--If NFP comes out at 0K or lower, and Unemployment Rate comes in as expected or high, USD/JPY should sell off 50+ pips.
--If NFP comes out pretty close to expectations, but Unemployment Rate is off by 0.2% or more, Unemployment Rate should take over the move and force USD/JPY up if it comes in low, and down if it comes in high.
That's all for today's update. If you'd like to learn more about trading or trade along with myself and my collegues, come join us at Profit Mongers. Our subscription is very reasonable at $179 per month, and right now you can sign up for a 2 week trial to get started for only $29. This offer is for new customers only. If you have any questions, you can also email me at sirpipsalot@profitmongers.com
To our success!
Sir Pipsalot
Nothing new to add on the trend front on stocks or EUR/USD. Right now we're just waiting for these consolidation ranges to break to either confirm or refute the downwards biases. Please see recent signals for information on the my downwards bias on both.
In news Thursday, we had little tradable data with both interest rate statements pretty much as expected. In news Friday:
0700 CAD Employment (12.5K expected) - CAD Employment can often hit very large deviations and create very strong moves. Just cross your fingers and hope for another big deviation like last month. Even a moderate 20-30K deviations should be good for 40-50 pips though.
If it comes out at 35K or higher, USD/CAD should fall 40+ pips.
If it comes out at -10K or lower, USD/CAD should rally 40+ pips.
0830 US NonFarm Payrolls and Unemployment Rate (-65K and 9.6% expected) - Be very careful to look out for conflicts between these two numbers or with revisions. Last month when NFP came out 50K worse, but Unemployment Rate came in 0.2% better, there was quite a whipsaw and little ultimate move. That being said, if they agree the move could be quite large. I think USD/JPY is the way to go on this one.
--If NFP comes out at 125K or higher and Unemployment Rate comes in as expected or low, USD/JPY should rally 50+ pips.
--If NFP comes out at 0K or lower, and Unemployment Rate comes in as expected or high, USD/JPY should sell off 50+ pips.
--If NFP comes out pretty close to expectations, but Unemployment Rate is off by 0.2% or more, Unemployment Rate should take over the move and force USD/JPY up if it comes in low, and down if it comes in high.
That's all for today's update. If you'd like to learn more about trading or trade along with myself and my collegues, come join us at Profit Mongers. Our subscription is very reasonable at $179 per month, and right now you can sign up for a 2 week trial to get started for only $29. This offer is for new customers only. If you have any questions, you can also email me at sirpipsalot@profitmongers.com
To our success!
Sir Pipsalot