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  1. #1
    Specialist Member RCox's Avatar

    Australian Jobs Number Sets Up Thursday Trade !!!

    Australian Jobs Number Sets Up Thursday Trade

    The Australian Dollar is seeing a good amount of volatility this week, with the rate cut to 2.75% taking a good portion of the market off-guard and forcing many to re-position their trades. Markets will now look to the economic data to see if the move was warranted and the next major release will be the monthly jobs report released on Thursday at 1:30 GMT. We have seen a good amount of volatility in these numbers in recent months, with a -36,000 print seen last month. This time, markets are expecting an addition of 11,000 jobs, and any downside surprise here will send the AUD/USD on a trajectory to potential test the parity level before the end of the week.

    A major range has formed on the daily charts, with a quadruple bottom now seen in the 1.0160 region. A clear break here should see significant follow-through and create a signal for PUTS on an hourly or daily basis (or even longer). If we see a positive surprise, look for a break of 1.0220 as a signal for CALL options on an hourly time frame. This area is support turned resistance and will take some pressure off the downside if broken.

    Click image for larger version. 

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  2. #2
    Senior Member LeeChang's Avatar
    AUD/USD is under pressure after the bad Australian data on Monday. The Jobs Number is really important one and will drive big movements if some surprises are in place.

  3. #3
    Specialist Member RCox's Avatar
    Prices bounce almost exactly off of the 1.0160 support level and rose through 1.0220 resistance triggering the trade. Hourly positions set to close positive.

    Jobs number came in at 50,100, much higher than expected.

    Click image for larger version. 

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