On December 2, at 15:30 Moscow time we are waiting again for the update of the statistics on the labor market of the USA and Canada, namely Nonfarm Payrolls (NFP) and Employment Change in Canada, and also about the level of unemployment in USA and Canada.
And again, we have a chance to make money with a USDCAD pair.
According to forecasts, employment of both countries will decrease.
Possible options to enter and exit the market:
1. Employment in the US will decrease, while in Canada it will increase.
We trade on the differently directed changes and catch the decrease of the USDCAD pair in the first 15 minutes (expected profitability is 0.1-0.2% and more).
Place the protection order Stop-Loss higher than the maximum of the previous day.
2. Employment in the US will increase, while in Canada it will decrease.
We trade on the differently directed changes and catch the increase of the USDCAD pair in the first 15 minutes (expected profitability is 0.1-0.2% and more).
Place the protection order Stop-Loss lower than the minimum of the previous day.
3. Employment and/or unemployment in both countries increase or decrease.
Abstain from entering the market.
Don’t forget usually the volatility strongly increases during the publication of NFP data!
Also, remember about the spread and money management rules!
Warning!
Trading on financial markets implies high levels of risk and can lead to a loss of investment capital. The MarketCheese team isn’t responsible for the possible loss of Your investment funds.
This content is for informational purposes only and is not intended to be investing advice.
