FXDD Special Report. A Preview of the US June Unemployment Report
Written July 1, 2009 at 9:39 PM EST by Greg Michalowski
Tomorrow is the US Non Farm Payroll for June. The estimate is for a 365K decline. This is on the back of -345K last month.
For a complete preview of the Unemployment report in our new magazine style format, click on the link below:
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Special Report: June US Unemployment Report (747.9 KiB, 856 hits)
Thank you for choosing FXDD,
Greg Michalowski
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thanx so much fr the report.. I would want to know the likely side expectation of the USD pairs..
I have been through a large number of unemployment reports and the one conclusion I have is risks increase greatly. With the crosswinds in the current economy and markets in a consolidating mood, the risks are probably even greater. I would suggest watching the first 15 minutes of action after the report and look for low risk opportunities off the technical levels. For the EURUSD that may be the 100 bar MA on the 5 minute chart or a break above or below the 100 hour or 200 hour MA. For the GBPUSD I would look at the 200 hour MA or prior lows. The point is there is no right answer to your question. However, watching the technical levels that you are most comfortable with will give you a low risk reason to trade. If your reason is correct, you wil benefit. If your reason to trade does not do what it is supposed to do, get out and look for a better opportunity. I hope this was of some help.