Any predictions for the next NFP?

mystikdragon7 · #1 03-02-2009, 10:53 PM

Just like the title says, anyone have any NFP predictions for the this month?

^eagle^ · #2 03-03-2009, 10:47 PM

Quote:

Originally Posted by mystikdragon7

Just like the title says, anyone have any NFP predictions for the this month?

More than likely another zig zag tug of war. US uneployment still sucks and europe still cant get thier Act together.

However a nice drop today.

alan · #3 03-04-2009, 01:51 AM

Quote:

Originally Posted by ^eagle^

More than likely another zig zag tug of war. US uneployment still sucks and europe still cant get thier Act together.

However a nice drop today.

I don't think Europe will get their act together for a long time to come. European banks were heavily leveraged and exposed to the mess in the U.S. Quite sad really, to think that the fate of Europe rests on events outside its borders.

I believe this Friday's NFP will show continuing deterioration of the US job market. Europe is expected to lower their central bank bid rates to 1.50% so I think this should put further momentum into the current downtrend in the eur/usd.

Like I said in numerous threads on this forum, I'm waiting for 1.2329 major support to be tested, and I think it will eventually. If it breaks it look for further decline to 1.19xx level. If it bounces off it we probably will see the eur/usd enter into a consolidation phase. Sustained trading above 1.30-1.32 is needed in my opinion to see further upside appreciation.

Just my two pips.

Happy trading everyone.

mystikdragon7 · #4 03-06-2009, 01:46 PM

I guess we'll have to see what happens next week after the NFP news settles down. I just have a gut feeling that the EUR/USD is going to break that resistance you're talking about and continue to tumble. The US economy is pure shit and it's turning into diarrhea and not getting any better anytime soon. I can see GM going TU here in the next few months and the US unemplyment rate going up to 8.4-8.6 next month.

dynamo · #5 03-08-2009, 06:15 PM

Definitely a good time to be scalping at the moment. After this NFP I think I am going to bet both ways on the next one. The consolidation seems to be always half a day away in both directions at the moment, so it seems fairly safe to take the trend whichever way it comes, and then wait for the hedge to come back in. Bad US news also seems to have little affect on the trend for more than half a day, whereas the European news tends to stick around for a few days. This week was rough with so much news in a short period. I should have quit on Tuesday when I was well ahead, but stupodly kept coming back in and lost a good portion of the gains I had made. Still finished up, but learnt my lesson until next time.

alan · #6 04-05-2009, 01:36 AM

Well boys..the euro is striving for 1.3737 resistence..could this be the beginning of a long term uptrend?