Special Guest Intro / March NFP Top-Down Analysis 🎨
Updated
Hello Traders! Today we were fortunate enough to have the ShrewdCatFx Illustrator make an appearance on the Air. Yes, it is that time of the month for NFP data!
0:0 Special Guest & Monthly Timeframe/NFP Expectations
2:32 Weekly Timeframe
3:43 Daily Timeframe
6:20 4Hr timeframe
8:27 1Hr Timeframe
Numbers are expected to decrease over the prior period but growth is expected overall as 198K jobs are forecasted to have been created in February. The figure from ADP on Wednesday missed expectations slightly as 149K was expected and 140K was the actual figure. If the data tomorrow is better/more than 198K, then I'm anticipating a partial retracement of the increase we've observed so far this week. (Up 120 Pips this week)
If the Data is close to what is forecasted (198K) or falls short of that number, then I anticpate a strong continuation move to the upside towards 1.09729 Daily Level and 1.09828 4Hr Zone. We may even moon towards the Monthly level 1.105. Otherwise, favorable numbers will cause a retracement (as previously mentioned) back towards 1.09039 4Hr Zone and 1.08834 Daily Level.
0:0 Special Guest & Monthly Timeframe/NFP Expectations
2:32 Weekly Timeframe
3:43 Daily Timeframe
6:20 4Hr timeframe
8:27 1Hr Timeframe
Numbers are expected to decrease over the prior period but growth is expected overall as 198K jobs are forecasted to have been created in February. The figure from ADP on Wednesday missed expectations slightly as 149K was expected and 140K was the actual figure. If the data tomorrow is better/more than 198K, then I'm anticipating a partial retracement of the increase we've observed so far this week. (Up 120 Pips this week)
If the Data is close to what is forecasted (198K) or falls short of that number, then I anticpate a strong continuation move to the upside towards 1.09729 Daily Level and 1.09828 4Hr Zone. We may even moon towards the Monthly level 1.105. Otherwise, favorable numbers will cause a retracement (as previously mentioned) back towards 1.09039 4Hr Zone and 1.08834 Daily Level.
Note
Hello traders, We accurately forecasted the movement for NFP Data today. As you can observe, the arrows plotted on this chart were from 15 hours ago. We got a retracement Pre-News to our 1.0935 1Hr support level. We held this level and price increased towards 1.09828 4Hr Zone. Another good call here at ShrewdCatFx 😼
. Since touching into the 4Hr Zone, 1.09828, we can see that there is some profit taking and price is pulling back. 9 Minutes after London Close here atm and we are retracing.
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