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How To Trade Non-Farm Payrolls
03.07.2008 04:27
actionforex.com
The US dollar has weakened ahead of the June non-farm payrolls report. According to payroll provider ADP and Challenger Gray and Christmas, the US labor market deteriorated significantly last month. ADP reported a 79k drop in payrolls while Challenger reported a more than 46 percent increase in layoffs. There is...
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Daily Technical Analysis
03.07.2008 04:27
actionforex.com
EURUSD topped at 1.5890 and closed at 1.5889. We have a valid bullish channel on hourly chart. My model is long targeting 1.5950. Immediate support is seen at 1.5850. CCI in overbought area on daily chart so watch out for a downside risk. Only use a tight money management at...
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The Daily Forecaster: EURUSD
03.07.2008 04:27
actionforex.com
The beginning of Wave v was a bit messy so it's rather difficult to judge whether we'll see any pullback. I suspect we will and note support around the 50% retracement at 1.5805 and as far down as a 76.4% retracement at 1.5785.
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Daily Forex Market Commentary
03.07.2008 04:27
actionforex.com
The dollar suffered mostly against the euro and its convenient sub, the franc, but made little progress versus the yen and pound. Today will be a very difficult day, which would suggest at face value more dollar weakness. But both the 25-bp rate hike by the ECB and a weak...
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Forex Exchange Morning Report
03.07.2008 04:27
actionforex.com
The overnight session started out with a slightly better USD bid tone. But this failed to follow through with softer US data (see below) suggesting downside risks to tonight's US payrolls report, and Citibank suggesting a technical buy EUR for 1.69 trade. This saw the New Zealand dollar retrace from...
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FX Technical Commentary
03.07.2008 04:27
actionforex.com
Euro 1.5880 Initial support at 1.5720 (June 27 low) followed by 1.5628 (June 26 low). Initial resistance is now located 1.5943 (channel top) at followed by 1.6019 (April 22 high).
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Weak ADP Jobs Data Puts Dollar On Defensive Prior To Payroll Data Tomorrow
03.07.2008 04:27
actionforex.com
The Australian Dollar rose following its retail sales data as traders factored in the increased chance of another rate hike this year. From a low near 0.9530, the Aussie rallied 100 pips to test the 0.9650 area.
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US ADP Sounds Jobs Warning, Crude Oil Spikes Higher
03.07.2008 04:27
actionforex.com
U.S. Dollar Trading (USD) was unable to sustain a mild bounce during the European session with markets reacting to a surprisingly negative ADP jobs report of -79K change in June. Forecasts of much more modest -20K have lead to concerns that June's Nonfarm Payrolls initially expected at -60K could come...
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Dollar Falls On ADP Job Forecast
03.07.2008 04:27
actionforex.com
The dollar fell against most key currencies Wednesday after the ADP report predicted US private employment will show a 79K decline in the job report tomorrow. This larger-than-estimated ADP number surprised traders. Interestingly, ADP forecasting records have consistently overstated job growth since August 2007, which could bode ill for the...
World
E-commerce
Daily Technical Analysis
03.07.2008 04:27
actionforex.com
EURUSD topped at 1.5890 and closed at 1.5889. We have a valid bullish channel on hourly chart. My model is long targeting 1.5950. Immediate support is seen at 1.5850. CCI in overbought area on daily chart so watch out for a downside risk. Only use a tight money management at...
World
E-commerce
Daily Forex Market Commentary
03.07.2008 04:27
actionforex.com
The dollar suffered mostly against the euro and its convenient sub, the franc, but made little progress versus the yen and pound. Today will be a very difficult day, which would suggest at face value more dollar weakness. But both the 25-bp rate hike by the ECB and a weak...
World
E-commerce
Forex Exchange Morning Report
03.07.2008 04:27
actionforex.com
The overnight session started out with a slightly better USD bid tone. But this failed to follow through with softer US data (see below) suggesting downside risks to tonight's US payrolls report, and Citibank suggesting a technical buy EUR for 1.69 trade. This saw the New Zealand dollar retrace from...
World
E-commerce
Weak ADP Jobs Data Puts Dollar On Defensive Prior To Payroll Data Tomorrow
03.07.2008 04:26
actionforex.com
The Australian Dollar rose following its retail sales data as traders factored in the increased chance of another rate hike this year. From a low near 0.9530, the Aussie rallied 100 pips to test the 0.9650 area.
World
E-commerce
Dollar Falls On ADP Job Forecast
03.07.2008 04:26
actionforex.com
The dollar fell against most key currencies Wednesday after the ADP report predicted US private employment will show a 79K decline in the job report tomorrow. This larger-than-estimated ADP number surprised traders. Interestingly, ADP forecasting records have consistently overstated job growth since August 2007, which could bode ill for the...
World
E-commerce
New York Session Recap
03.07.2008 04:26
actionforex.com
Record high oil prices, stumbling US stocks, lower yields and a poor batch of employment data led to a selloff in the greenback of more than 75 pips on average against the majors in NY trading. Oil prices hit a new record by breaching the $144/bbl mark and this helped...
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