News Update for Friday, Mar07, 2008 (8:30 AM EST US NY Time)
We have total three important data news today two of them coming out of US at 8:30 AM EST and other one from Canada at 7:00 AM EST time, this is very important and exciting event.
CAD Jobs Data at 7:00 AM EST
US NFP Data at 8:30 AM EST
Extreme caution required on this data news event so trade forex signals accordingly...
CAD JOBS DATA :
First Major News coming out from Canada is Jobs- Net Change Data which is most important news, it will come out from Canada around 07:00 AM EST. The expected number to come is 8K versus 46K of last month. if the Canadian jobs data comes out less than 2K or lower near to zero, it will spike up the USD/CAD by 50 pips or more in the first 60 minutes of the data news. don't miss the initial spikes, if the Canadian jobs data comes at 25K or higher, it causes the USD/CAD down by 40 to 50 pips in the first few 60 minutes of the data news.
Special Signals for CAD Data Event !
Sell USD/CAD if CAD data comes around 25K+, the target will be 50 pips -- Wait for Entry
Sell EUR/CAD if CAD data comes around 25K+, the target will be 50 pips --Wait for Entry
Buy USD/CAD if CAD data comes bellow 2K, the target will be 50 pips --Open Buy/Long Wait for Entry
Buy EUR/CAD if CAD data comes bellow 2K, the target will be 50 pips --Open Buy/Long Wait for Entry
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US Non Farm Payroll Data:
This time Non farm payroll is expected lower than last month, On this first Friday of the month of January the US Non-Farm Payroll data is coming out from US. The previous number was -17 K, Now we are Expecting NFP data around 25K. If the NonFarm data comes out above 30K or higher we will Sell EUR/USD and GBP/USD, but if the data comes around 5K or lower, our strategy would be to Buy/Long EUR/USD and GBP/USD and target will be 50 to 80 pips on either side.
Special Signals for US NFP Data Event !
Sell EUR/USD if NFP Data comes above 30K, the target will be 60 pips- Wait for Entry
Sell GBP/USD if NFP Data comes above 30K, the target will be 60 pips- Wait for Entry
Buy EUR/USD if NFP Data comes bellow 5K, the target will be 60 pips --Open Buy/Long Wait for Entry
Buy GBP/USD if NFP Data comes bellow 5K, the target will be 60 pips --Open Buy/Long Wait for Entry
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Traders are advised to Trade Instant Signals according to the News.. Newbie traders are advised to trade this event on demo account. if your Broker's platform wide their spreads during news time don't try to trade news data on that platform.
Traders are advised to put their own stop-loss and limits according to their own experience on open trades.
Have A Nice Trade !
Fxforecaster Team
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