Trading plan 01/09/2017

Trading plan 01/09/2017

The overall picture: The market is ready to organize its movement based on nonfarm payrolls data.

The focus is on US employment data at 12.30 PM London Time.

The previous value is +209, 000 and the forecast is +180, 000 (this is not our forecast, but the consensus forecast of most known analysts).

It should be noted that just two days ago, on August 30, a report from a private company ADP showed a much higher result for August, +237, 000, but we do not see a revision of the general forecast.

It would be worthwhile to expect that non farms will go far ahead of the forecast, at +235, 000.

This would lead to a new strong growth of the dollar - against the euro and the pound.

It is also noted that at 2:00 PM London time the report on the ISM industrial index for the US will be released - according to the forecast, no significant change is expected in comparison with the previous month.

Thus, the markets are waiting for data at 12.30 PM London Time.

EURUSD

There are certain levels for entering the breakout:

Upward 1.1925.

Downward 1.1820.

Stop of 45 points (4-mark).

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The material has been provided by InstaForex Company - www.instaforex.com