12 Forex Trading tips for 7th October


Start with today’s forex trading tips ahead of Non-Farm Payrolls data and as we approach the weekend. Continued USD bullishness? Will we see GBP at 1.1000 by the end of this year?

7th October AtoZ Forex – Today’s forex trading tips with the key Non-Farm Payrolls data release later today, what can we expect for GBP?

High impact news

The GBP plunged further in the Asian session below 1.2000 level, where will markets establish a fair price for the GBP? There six (6) high impact news events today.

 # 1 GBP –@ 9.30am BST

Employment Change – Previous -0.9%; Forecast 0.4%; Currency affected: GBP

Forex Trading Tips – This data is a measure of the change in the total inflation-adjusted value of output produced by manufacturers. Market expectation positive data, however, if actual is lower than the forecast, expect GBP to depreciate.

 # 2 CANADA –@ 1.30pm BST

Employment Change – Previous 26.2k; Forecast 8.5k; Currency affected: CAD

Forex Trading Tips – This data is a measure of the change in the number of employed people during the previous month.  Market expectation is for an decrease, however, if actual is higher than the forecast, expect CAD to appreciate.

 # 3 CANADA –@ 1.30pm BST

Unemployment Rate – Previous 7.0%; Forecast 7.0%; Currency affected: CAD

Forex Trading Tips – This data is a measure of the percentage of the total work force that is unemployed and actively seeking employment during the previous month. Market expects no change, however, if actual is lower than the forecast, expect CAD to appreciate.

 #4 USA –@ 1.30pm BST

Average Hourly Earnings – Previous 0.1%; Forecast 0.2%; Currency affected: USD

Forex Trading Tips – This data is a measure of the change in the price businesses pay for labor, excluding the farming industry. Market expectation is for an increase, however, if actual is lower than the forecast, expect USD to depreciate.

 # 5 USA –@ 1.30pm BST

Non-Farm Employment Change – Previous 151k; Forecast 171k; Currency affected: USD

Forex Trading Tips – This data is a measure of the change in the number of employed people during the previous month, excluding the farming industry. Market expectation is for an increase, however, if actual is lower than the forecast, expect USD to depreciate.

 # 6 USA –@ 1.30pm BST

Unemployment Rate – Previous 4.9%; Forecast 4.9%; Currency affected: USD

Forex Trading Tips – This data is a measure of the percentage of the total work force that is unemployed and actively seeking employment during the previous month. Market expects the rate to remain the same, however, if actual is lower than the forecast, expect USD to appreciate.

Currency Pairs – Daily Forex Trading Tips

#7 AUD forex trading tips

The AUD performance was mixed in the Asian session.

Forex Trading Tips – On intraday (H1 TF) the bias currently is bullish against CAD, CHF and bearish JPY, USD.

#8 CAD forex trading tips

The CAD performance was mixed in the Asian session.

Forex Trading Tips – On intraday (H1 TF) the bias currently is on the bearish against  AUD,  EUR, GBP, JPY, USD and bullish CHF.

Also see: Daily Free Forex Signals

#9 EUR forex trading tips

The EUR performance was  mixed in the Asian session.

Forex Trading Tips – On intraday (H1 TF) the bias currently is on the bearish side against the AUD, CAD, GBP, USD and bullish against the CHF, although this maybe a correction.

#10 GBP forex trading tips

The GBP performance was bearish and neutral for most currencies in the Asian session.

Forex Trading Tips – On intraday (H1 TF) the bias currently is neutral/ bearish against AUD, CAD, EUR, JPY, NZD, USD and bearish CHF.

#11 JPY forex trading tips

The JPY performance was choppy in the Asian session.

Forex Trading Tips –On intraday (H1 TF) the bias currently is bullish against the  AUD  and bearish against CAD, GBP, NZD, neutral CHF, USD.

#12 USD forex trading tips

The USD performance was bullish in the Asian session.

Forex Trading Tips –On intraday (H1 TF) the bias currently is on the bullish direction against the AUD, CHF, CAD, CHF, EUR, NZD and neutral JPY, GBP.

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