{"id":70529,"date":"2015-04-02T07:36:28","date_gmt":"2015-04-02T11:36:28","guid":{"rendered":"http:\/\/countingpips.com\/?p=70529"},"modified":"2015-04-02T07:36:28","modified_gmt":"2015-04-02T11:36:28","slug":"eurusd-long-position-ahead-of-non-farm-payrolls-could-be-a-winning-strategy","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/04\/eurusd-long-position-ahead-of-non-farm-payrolls-could-be-a-winning-strategy\/","title":{"rendered":"EUR\/USD: Long Position Ahead Of Non-Farm Payrolls Could Be A Winning Strategy"},"content":{"rendered":"
April 2, 2015<\/div>
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GROWTHACES.COM<\/a> Forex Trading Strategies:<\/strong><\/p>\n

Taken Positions<\/strong><\/p>\n

EUR\/USD<\/strong>: long at 1.0820, target 1.1180, stop-loss 1.0690, risk factor *<\/p>\n

GBP\/USD:<\/strong> long at 1.4820, target 1.5000, stop-loss 1.4740, risk factor ***<\/p>\n

USD\/JPY:<\/strong> short at 119.40, target 117.50, stop-loss 120.40, risk factor ***<\/p>\n

USD\/CAD:<\/strong> short at 1.2650,target 1.2350, stop-loss 1.2790, risk factor ***<\/p>

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AUD\/USD:<\/strong> long at 0.7660, target 0.7930, stop-loss 0.7540, risk factor ***<\/p>\n

EUR\/GBP:<\/strong> long at 0.7295, target 0.7450, stop-loss 0.7220, risk factor *<\/p>\n

EUR\/CAD:<\/strong> long at 1.3650, target 1.3900, stop-loss 1.3520, risk factor *<\/p>\n

Pending Orders<\/strong><\/p>\n

USD\/CHF:<\/strong> sell at 0.9700, if filled \u2013 target 0.9300, stop-loss 0.9850, risk factor **<\/p>\n

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EUR\/USD: Long Position Ahead Of Non-Farm Payrolls Could Be A Winning Strategy<\/strong><\/p>\n

(long for 1.1180)<\/p>\n

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  • ADP National Employment Report showed U.S. private employers added 189k jobs last month, the lowest since January 2014.<\/strong> The reading was clearly below the median forecast for 225k. February’s private payrolls were revised up to an increase of 214k from the previously reported 212k.<\/li>\n
  • The ADP figures come ahead of the U.S. Labor Department’s more comprehensive non-farm payrolls report on Friday, which includes both public and private-sector employment. The ADP data confirm that March jobs data may be weaker. Our fine-tuned non-farm payroll forecast is at the level of 220k vs. market expectations for 244k. The unemployment rate is expected to have remained at 5.5%.<\/strong><\/li>\n
  • We should mention that the market is extremely bearish on the EUR now. Even slightly weaker U.S. non-farm payrolls reading on Friday has the potential to generate a sustainable pullback. In our opinion getting long on the EUR\/USD ahead of the tomorrow\u2019s jobs data could be a winning strategy.<\/strong><\/li>\n
  • U.S. ISM manufacturing said its index of national factory activity fell to 51.5,<\/strong> the lowest reading since May 2013, from 52.9 the month before.<\/strong> The reading was below expectations of 52.5. The index shows that strong USD is weighing down on the U.S. economy, especially manufacturing sector.<\/li>\n
  • Atlanta Federal Reserve President Dennis Lockhart (voting this year) expects June-September is a reasonable timeframe to assess rate-increase prospects. <\/strong>He added: \u201cThe weakness of the first quarter got my attention. I still believe the factors are transitory.\u201d<\/li>\n
  • The EUR\/USD fall was stopped near 1.0720 and we see a recovery on this pair today after yesterday\u2019s weak U.S. macroeconomic figures. The EUR\/USD broke above the 21-dma, which suggests that our previous buy order at 1.0650 has low chances to be filled.<\/li>\n
  • We do not change our medium-term forecast pointing to a rise in the EUR\/USD. In our opinion levels near 1.0800 are still good opportunity to get long as we expect the USD to weaken further, especially in case of much weaker non-farm payroll data tomorrow.<\/strong><\/li>\n
  • We have got EUR\/USD long at 1.0820 and set the target at 1.1180. We have got also EUR\/CAD long at 1.3650 with the target of 1.3900.<\/strong><\/li>\n<\/ul>\n

    \"EUR\/USD<\/strong><\/p>\n

    Significant technical analysis’ levels:<\/p>\n

    Resistance: 1.0846 (high Mar 31), 1.0858 (10-dma), 1.0900 (high Mar 30)<\/p>\n

    Support: 1.0713 (low Mar 13), 1.0651 (low Mar 20), 1.0618 (low Mar 19)<\/p>\n

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    AUD\/USD: We Stay AUD Long And Expect The RBA To Keep Rates On Hold<\/strong><\/p>\n

    (long for 0.7930)<\/p>\n

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    • Australian trade deficit rose to AUD 1256.0 million in February<\/strong> from AUD 1003.0 million in the previous month. The reading was slightly lower than the median forecast for a deficit of AUD 1300 million.<\/li>\n
    • The Australian Bureau of Statistics showed total job vacancies rose to 151.7k seasonally adjusted in the February quarter, their highest from late 2012<\/strong>, from 150.5k in the three months to November. That left vacancies up 6.3% yoy. Vacancies in the private sector edged up 0.3% qoq 138.3k. Public sector vacancies rose 5.6%, though at 13,300 they remain at low levels historically. Employment in the public sector had been hit by belt-tightening by both Federal and state governments. The vacancies series are a reliable leading indicator of labor demand.<\/li>\n
    • Debt markets imply a 77% chance of a quarter point easing on April 7<\/strong>, when the Reserve Bank of Australia holds its policy review. In our opinion the RBA will leave interest rates on hold which would be a strong boost to the AUD. We stay AUD\/USD long for 0.7930.<\/strong><\/li>\n<\/ul>\n

      \"AUD\/USD<\/p>\n

      Significant technical analysis’ levels:<\/p>\n

      Resistance: 0.7665 (high Mar 31), 0.7706 (21-dma), 0.7740 (10-dma)<\/p>\n

      Support: 0.7561 (low Mar 11, 2015), 0.7451 (low May 18, 2009), 0.7335 (low May 6, 2009)<\/p>\n

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      GROWTHACES.COM Forex Trading Strategies: Taken Positions EUR\/USD: long at 1.0820, target 1.1180, stop-loss 1.0690, risk factor * GBP\/USD: long at 1.4820, target 1.5000, stop-loss 1.4740, risk factor *** USD\/JPY: short at 119.40, target 117.50, stop-loss 120.40, risk factor *** USD\/CAD: short at 1.2650,target 1.2350, stop-loss 1.2790, risk factor *** AUD\/USD: long at 0.7660, target 0.7930, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-70529","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/70529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=70529"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/70529\/revisions"}],"predecessor-version":[{"id":70530,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/70529\/revisions\/70530"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=70529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=70529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=70529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}