US NFP is expected to be around 88K, and considering the Fed’s meeting and the fact rate hike and reduction in the current balance sheet are in play, USD is likely to remain supported throughout.
Obviously, if we get a strong release, which the market is not expecting, we will see a strong surge in the USD. However, if a worse than expected release, as long as not below 50K, the market will probably not sell the USD much, but we should see some consolidation.
8:30 am (NY Time) US NF Employment Forecast 88K Previous 156K
The Trade Plan
If we get a conflicting release, then well wait and see how the market reacts first. If there is an overwhelming sentiment driving the market, well get plenty of opportunities for an entry if we just wait for 5 minutes after the release; you´ll get a much clearer view.
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NFP Trading Strategy
Then the next step is to wait for the Unemployment Rate, which is expected to be at 4.4%. If the Unemployment Rate were to surprise higher, we’ll have to make a decision based on the market sentiment coming into this release… Of course, if the Unemployment rate were to fall below 4.0%, then we should see a surge in USD as traders speculate Fed accelerate rate hiking process.
After all of the numbers have been released, wait for the market to push and wait patiently for a decent retracement before getting in. Look for recent support/resistance areas for entry as a high impact news with various components are extremely volatile, and those who are patient will always get a chance to enter with a much better entry.
US NFP (Nonfarm Payroll) Employment | October 6, 2017 | Currency News
October 1, 2017 by Leave a Comment