NFP tomorrow + Trading Levels for 10.05.2018

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NFP – Non Farm Payrolls report is due tomorrow at 8:30 Am EST. This is  market moving report. I personally like to look for breakouts, retracements and then a signal that the first brekaout was valid and go with that direction but obviously this is just a general frame and the actual trading is much riskier / complicated than that.
What is NFP? Non-Farm Payrolls ( credit: www.nasdaq.com )
The US economic calendar is stacked with many events throughout the month but none is more anticipated that the release of Non-Farm Payroll figures. Non-Farm Payrolls also known as NFP, is reported monthly by the US Bureau of Labor Statistics to give a timely glimpse into employment changes inside of the United States. Ultimately this report can give traders insight into whether the US economy is expanding or contracting while directly influences the decisions of policy makers such as the US Federal Reserve. With this in mind let’s take a closer at this news event, so we can better understand NFP and its potential impact on marks.
First, NFP looks specifically at net changes in employment as jobs are created or subtracted in an economy in any given month. The term Non-Farm is used since farm / agricultural workers are not included in the employment count. The decision to not include agricultural jobs lies in these jobs being largely seasonal that could possibly produce small temporary shifts in labor reporting. For this reason certain government employees, private household employees and nonprofit organization are also not included in the count.
NFP reports affect interest rate futures, forex futures, indices, metals and even the energy sector to name some of the markets moved by this report.
Plan your trade, trade your plan and stay nimble along the way……

Good Trading

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.  You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

Futures Trading Levels

10-05-2018

 

Contract December 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2965.25 7822.67 27182 1699.80 6812.99
Resistance 2 2945.75 7736.83 27007 1687.80 6704.88
Resistance 1 2926.75 7628.17 26833 1669.50 6637.76
Pivot 2907.25 7542.33 26658 1657.50 6529.65
Support 1 2888.25 7433.67 26484 1639.20 6462.53
Support 2 2868.75 7347.83 26309 1627.20 6354.42
Support 3 2849.75 7239.17 26135 1608.90 6287.30
Contract December Gold #GC_F Dec. Silver #SI-F Nov. Crude Oil #CL-F Dec.  Bonds  #ZB_F Dec.  Euro #6E_F
Resistance 3 1220.6 15.00 78.64 138 26/32 1.1694
Resistance 2 1215.6 14.90 77.56 138 18/32 1.1650
Resistance 1 1209.5 14.76 76.05 138  8/32 1.1614
Pivot 1204.5 14.66 74.97 138 1.1570
Support 1 1198.4 14.51 73.46 137 22/32 1.1534
Support 2 1193.4 14.41 72.38 137 14/32 1.1490
Support 3 1187.3 14.27 70.87 137  4/32 1.1454
Contract Dec.  Corn #ZC_F Dec. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Nov. Nat Gas #NG_F
Resistance 3 371.5 528.3 875.67 319.33 3.37
Resistance 2 370.0 524.5 872.08 317.27 3.31
Resistance 1 368.8 521.3 865.67 314.73 3.25
Pivot 367.3 517.5 862.08 312.67 3.19
Support 1 366.0 514.3 855.7 310.1 3.1
Support 2 364.5 510.5 852.08 308.07 3.07
Support 3 363.3 507.3 845.67 305.53 3.00

Economic Reports, source: 

www.forexfactory.com

 

Date 3:39pm Currency Impact Detail Actual Forecast Previous Graph
FriOct 5  2:00am EUR
German Factory Orders m/m
0.7% -0.9%
EUR
German PPI m/m
0.2% 0.2%
2:45am EUR
French Gov Budget Balance
-82.8B
EUR
French Trade Balance
-4.5B -3.5B
3:30am GBP
Halifax HPI m/m
0.2% 0.1%
4:00am EUR
Italian Retail Sales m/m
0.2% -0.1%
8:30am USD
Average Hourly Earnings m/m
0.3% 0.4%
USD
Non-Farm Employment Change
185K 201K
USD
Unemployment Rate
3.8% 3.9%
USD
Trade Balance
-53.4B -50.1B
12:40pm USD
FOMC Member Bostic Speaks
3:00pm USD
Consumer Credit m/m
14.9B 16.6B

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.

Posted in: Future Trading News  

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