Forex News Trading Events For The Week of 2nd – 6th March

I’ve put together some analysis of this week’s Forex news events, which I hope will give everyone a good understanding of how I’m viewing the market for this week.

This week’s “high impact” news event that I will be looking to trade is as follows;

Friday 6th March 2015

USD – Non-Farm Employment Change & Average Hourly Earnings – 01:30pm

It’s not always the case that NFP is so important, the market gets transfixed by it but allot of the time in reality it’s not that important or market moving, however this one is different.

NFP lately has been very positive the Fed have stated that labour market data is one of their key criteria when deciding whether to hike or not.

I believe after a sustained run of NFP’s over 200k, this could be one of the last ones and will tell the Fed that “yes” it is the right time to hike.

If we get a really good NFP figure 241k or above combined with a good average hourly earnings 0.2% or above and a good unemployment rate 5.6% or above or the majority of those three we could see the USD have another leg up.

I also think that the USD will be supported going into this event, this means you can position yourself long on the USD going into these events.

When I position myself prior to an event, the same as with USD/CAD last week, if I get profit on the table I usually take it prior to the actual announcement.

So if I get in on Monday or Tuesday and by Thursday afternoon I’m in 50 – 100 pips worth of profit, I’ll take the position off and just stay out of the market on the risk event as it is not worth taking the risk.

We can buy the USD going into the event against the weaker currencies (EUR,JPY) on the basis that there will be positive USD sentiment leading up to the event as expectations are that the data points will be USD positive.

Of course the caveat to that is, keep your eye on a news feed if anything changes, if something happens to cause serious USD weakness which is very unlikely at this stage that will happen and I believe we will see USD strength throughout the week going into Friday.

Followed by the hunch that NFP and these other figures could come out quite positive, this will provide fundamental support to the sentiment building throughout the week, which will give the USD a further boost up.

In summary my theme of the week is to look to buy USD’s against weaker currencies heading into the event on Friday the 6th of march.

The post Forex News Trading Events For The Week of 2nd – 6th March appeared first on Jarratt Davis.

Source:: Forex News Trading Events For The Week of 2nd – 6th March

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Jarratt Davis is the world’s ranked #2 (2008-2013) Forex Trader by Barclays FX Hedge Index, following years of mastering his art as a self employed trader Jarratt has now entered the field of education and delivers the most robust Forex education package on the market. Jarratt’s mentorship is one of the only programs on the market that is conducted by a verified professional trader. Forex Alchemy readers can get the FREE mini course where Jarratt gives away some of his secrets to success by Clicking Here... [space height="20"] [social type="facebook"][/social] [social type="twitter"][/social] [social type="google-plus"][/social] [social type="youtube"][/social]

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