NFP is expected same -80 K as last month

News Update for Friday, May02, 2008 (8:30 AM EST US NY Time)

We have only one important data news today which is coming out of US at 8:30 AM EST, this is very important and exciting event as ever.

US NFP Data at 8:30 AM EST

Extreme caution required on this data news event so trade forex signals accordingly...

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 -80 K, Now we are Expecting NFP data around -70K.
If the NonFarm data comes out around minus -20 K we will Sell EUR/USD, but if the data comes around -120K or more negative then our strategy would be to Buy/Long EUR/USD and target will be 50 to 80 pips on either side.
Must look for other data which is the unemployment rate. expected is 5.1 to 5.2 so atleast 0.2 deviation can make difference and it is considerable deviation because if it is conflicting with data news be careful to trade.

Special Signals for US NFP Data Event !

Sell EUR/USD if NFP Data comes around -20K, the target will be 60 pips--Open Short/Sell--Wait for Entry

Buy EUR/USD if NFP Data comes around -120K, the target will be 60 pips--Open Buy/Long--Wait for Entry

Sell USD/JPY if NFP Data comes around-120K, the target will be 80 pips--Open Short/Sell--Wait for Entry

Buy USD/JPY if NFP Data comes around -20K, the target will be 80 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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