Special Report Trading the Non-Farm Payroll Report Trade with our accurate and more reliable forex trading Analysis and Enjoy Stress free trading opportunity For further detailed Analysis, visit us: WWW.CASHMYPIPS.COM How To trade NFP News Trading news releases can be significant forex strategy as news often spurs strong short-term moves in the market providing excellent trading opportunities for traders. This report shows you in-depth analysis of GBP/USD currency pair. Today’s News? The non-farm payroll (NFP) report is a key economic indicator for a trend change in Currencies’ direction. The NFP report causes one of the consistently largest rate movements of any news announcement in the forex market. As a result, many analysts, traders, investors and speculators anticipate the NFP number - and the directional movement it will cause. With so many different parties watching this report and interpreting it, even when the number comes in line with estimates it can cause large rate swings. Read on to find out how to trade this move without getting knocked out by the irrational volatility it can create. Trading NFP: The NFP report generally affects all major currency pairs, but one of the favorites among traders is the GBP/USD. NFP is the most volatile news release for forex traders; it can move the market anywhere from 100 to 225 pips in a matter of minutes. A strong payrolls number could send interest rates higher, making the USD more attractive to foreign investment as well as being bullish for US stocks. Conversely a weak number could push interest rates lower and have the opposite effect. Here the figures for the news: 8:30am (NY Time) US NF Employment Forecast 165K Previous 120K 8:30am (NY Time) US Unemployment Rate Forecast 8.2% Previous 8.2% Typical market reaction: Payroll Employment Up > Bond Market Down, Stock Market Up Unemployment Rate Up > Bond Market Up, Stock Market Down Payroll Employment Down > Bond Market Up, Stock Market Down Unemployment Rate Down > Bond Market Down, Stock Market Up Candlestick Analysis: According to Candlestick Rules following are the price Support and Resistance levels to watch: 1.65325 1.63964 1.62793 1.6165/79 1.59914 1.58062 1.56059 A break below 1.6165/79 will send the price lower towards 1.59914, 1.58062 respectively. While a rejection of 1.6165/79 will accelerate the price in upward direction towards 1.62793first, and the next target in case of a break of 1.62793would be 1.63964. Fibonacci patterns According to Fibonacci rules price made 50% retracement Of 1.56058 to 1.60574 .And now the expansion level for this 50% retracement will complete at 1.63349/65 area. In order to complete this Fibonacci pattern price must respect the downside trend line and would not break it. Whereas a break of this lower trend line will negate this fibo pattern. Trendlines And Chart Patterns: Following chart patterns are being made in GBP/USD. Analysis: Above chart is speaking for itself . The price is still hanging with the upper channels. So there are a lot of chances for the price to make some downside correction .while a support from the lower trend lines will send the price higher again .For now , there are more probabilities of the price to come down and complete the channel formation. In other words, price may slide towards 1.6080 first, and 1.59914 would be the next target. Disclaimer Trading foreign exchange is a high level risk investment, and may not be suitable for everyone. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Remember, the purpose of this site is to help in your trading decision. We offer in depth analysis and signals to help you in your decision making. Our market recommendations are based solely on the judgment of our personnel. These recommendations are based upon information believed to be reliable, but we cannot and do not guarantee the accuracy or completeness thereof or represent that following such recommendations will reduce or eliminate the risk inherent in Forex. So this site is not responsible for any loss of your investment in anyway.
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