[flv:http://www.newsprofiteer.com/100209-usnfp/100209-usnfp.mp4 480 360]
8:30am (NY Time) US NonFarm Payroll Forecast -179K Previous -216K
ACTION: USD/JPY BUY -100K SELL -250K
We will focus on the actual NFP release number, which is expected at -179K. We’ll wait for the numbers to come out, but will not take any trade YET, even if we get -100K or -250K. We’ll wait for the revision number, which is -216K to come out first as the market usually overracts with the Revision; chances favor for this trade to work out if we do not get a conflicting directions between the revision and the actual release.
Then the next step is to wait for the Unemployment Rate, which is at 9.8%. Sometimes market focus on this number more than the actual NFP release in the event of a huge surprise rise in the jobless rate. Since last month’s release was at 9.7%, expectations are for a slightly increase of 0.1%. If the release goes over 10.0%, market sentiment could turn into a risk aversion immediately, therefore we need to focus on this number.
One interesting observation from Bloomberg is that Goldman Sachs have revised its NFP estimate from -200K to -250K today. Since Goldman Sachs have been known in the market with its accuracy in predicting NFP outcomes, we could see some pre-market movement in the direction of risk aversion…
As usual, I will trade this release live and post the recording back in this blog. Therefore, stay tuned.
DEFINITION
“Measures the change in number of employed people during the previous month, excluding the farming industry. A rising trend has a positive effect on the nation’s currency. Job creation is an important indicator of economic health because consumer spending, which is highly correlated with labor conditions, makes up a large portion of GDP. This report is the first of the month that relates to labor conditions, making it susceptible to big surprises.”
No related posts.
{ 17 comments… read them below or add one }
Thanks Henry for that prompt response.
Beside the ebook, there are other two services i saw on the newsprofiteer site:
1.Daily limit levels
2. weekly Outlook.
Could you please give a brief explanation of what these services are about?
Secondly are they tied to the purchase of the ebook or are they diferent entities on their own?
Are each of these services charged separately or is there one specific price for using all of the services of the newsprofiteer site?
1. Daily Limit Levels is a service that I plan to include with my DVD. It is based on the statistical range of currency pairs by setting 3 Support and 3 Resistance areas. Gave over 9000 pips in 3 months, but ever since the credit crisis, it has been batting a little over 60%, so I stopped promoting it. But still an excellent tool to use as a confirmation for trades.
2. Weekly outlook is for Ebook customers to guide them thru the same process that I go through every Sunday. I plan and schedule my time, and I analyze long term, mid term, and short term outlooks of all major currency pair. It is like a hand-holding and after education support for whoever that bought my ebook. 30 days free with purchase of the ebook, then at $99 a month. I spent over 6 hours every Sunday to write this report, I think it is completely worth it.
These 2 are separate services, the e-book is tied in with the weekly outlook, and DLL is a stand alone. Hope this answers your question.
Henry
Hi
I requested for information regarding purchase of the ebook, subscription for the services of the newsprofiteer site and about the trade room. Its been days now without any response from your customer service. I dont think the customer service is doing a good job and besides is there no any form of telephone contact?
Syed:
Right now there is really nothing to update until we have finished all of the arrangements for the trade room. Sorry for the bad experience you’ve had with my customer service, I’ll talk them immediately. As far as ebook, you can get it at newsprofiteer.com, for the traderoom, there is no update now, but I should make an announcement this month and open registration to public. My only other service is the Weekly Outlook, which is for people who bought my ebook. So I hope this answers your question. And I’ll get a phone number setup for support, thanks for your suggestion.
Henry
Henry please are FX NEWSwiz? Your address on the NEWSPROFITEER is the same.
Jon:
I am friend with Mr. X and I have recommended his service to my subscribers. But unfortunately Mr. X can no longer fulfill his obligations with the people at FXNW so I took over the trade room as I made the recommendation in the first place and I felt responsible. So I hope this answers your question.
Henry
Dear Henry ,
On your video you are saying that you are closing your position because you have to concentrate on your clients who are in your trading room . My question is how do we get in your trading room because I don’t see any links that permit me to go on it. Thank you for answering, Regards Gerard
Gerard:
Thanks for your interest, as I am working day and night trying to get everything in order for the big launch of the trade room. Please make sure you signup for the FREE trade signal on this page, I’ll be sending out announcements later on this month. Thanks
Henry
how can one join your treading room?
Destiny:
Just make sure you signup for the trade signals, I’ll be sending invites soon.
Henry
Hello Henry (Professor of Forex),
I really appreciate the work you are doing. I have not yet seen anyone who is as accurate as you are in forex fundamentals. If I had known you for the past years, I wouldn’t have been a lost in forex at all. Nevertheless, I am very glad I am becoming a winner in forex these days. I believe in a shortest possible time, I will recover all I have lost and gain in million folds. Thanks man for the wonderful job.
Aniekan
Hello
Henry great work!!! Do you have a live trading room so newbie can learn of you as you trade which would be a huge boost to them?
Raunak:
Working on making the traderoom public soon. Still got a few things to iron out, but hopefully I will open for registration this month (October 09).
Henry
I apologise and stand corrected Henry. Yes you got in on the Sell GY @ 141.25 which went down as far as the 140.60 before its strong reversal of over 220 pips back the other way.
Good vision on the EY Buy trade as both the GY and EY showed great strength against the USD and JPY.
Thank you Devin
Nice trading Henry it was lucky you got out of the Sell EURJPY trade as it did a srong reversal of just over 200 pips when it went down and hit the 129.00 mark.
Cheers Devin.
Devin:
Nothing to do with luck. I sold GY initially and never sold EY. As I did the pre-news analysis, sell is with GY only as GBP is weaker than EUR. However, once I saw how the market was reluctant to stay below 141, I knew no more sell, so I started looking to buy. As a matter of fact, I told the room to BUY both USD/CAD and EUR/JPY, but we were 10 pips away from CAD and only got in on EY. Market turned and gave us about 120 pips of profit, out of which I took 50, told the room to hold on to 131.
Henry
Hello Henry, Nice work you’re doing. Thanks Man! I understand you’ve a place on your site where those who pay are treat well, you know what I mean. Mail me the link, I’ll like to subscribe. Thanks. Hope your teeth is well now!