Australia Labour Force | Forex Factory

Australia Labour Force | Forex Factory

Australia Labour Force

From abs.gov.au

MAY KEY POINTS TREND ESTIMATES (MONTHLY CHANGE) Employment increased to 11,573,100. Unemployment decreased to 719,700. Unemployment rate remained steady at 5.9%. Participation rate remained steady at 64.7%. Aggregate monthly hours worked decreased 2.1 million hours (0.1%) to 1,598.6 million hours. SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE) Employment decreased 4,800 to 11,564,600. Full-time employment increased 22,200 to 8,068,300 and part-time employment decreased 27,000 to 3,496,200. Unemployment increased 3,200 to 717,100. The number of unemployed persons looking for full-time work increased 9,000 to 529,700 ... (full story)

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Jun 12, 2014 2:54am — Edited

For those looking to short a/u, this is the best spot I can see to short(.9400)...but I won't use more than a 25pip stoploss as the uptrend is fairly strong.

For those looking to long, hope you bought on that news dip earlier and have moved your stoploss up to lock in profits and then you can let the trade run if you're looking for more than 40-50pips profit(typically 40-50pips is my goal per trade).

Happy Trading!

update....Personally, if I had shorted at .9400, it's been a couple hours and a/u barely went more than 10pips below .9400 and is right back at the highs of the day...I'd be closing for a 10pip loss and living to trade another day. But that's just how I would manage a trade.

Jun 12, 2014 7:23am

Quoting zax1150

Disliked

Actually if you look @ the Fibs its been bouncing between them for hours ....basic stuff for low vol markets

Ignored

Don't really follow the fibs, so I can't really comment...but I do use the standard 200 and 50 ma's....the last week of May provided support around .9200-20 on the Daily 200ma. Price has been riding up the 1hr 50ma since last week. It appears that the Aussie employment news created a fake out below the 1hr 50 and back above.

Jun 12, 2014 8:48am

Quoting broketrader

Disliked

Interesting to see that despite the bad employment change report, the move is still on the upside.

Note also that a weekly pennant has been broken on the upside.

Bullish

Ignored

That's because actual news numbers don't matter...it's how the market makers, big traders, etc...react to the news that matter.

And I agree, bullish. As mentioned a couple days ago I saw .9400 first target, then possibly .9500 in a few days/next week...then based on the Daily chart it could keep going up to .9600 area. Time will tell. Happy Trading!

Jun 12, 2014 7:53am

well considering the data is fake .... ;-D

no big surprise makes for tidy profits on the crosses eg: Eur/Aud & Gbp/Aud

I use the 24Hr fib's as they tend to be bang on
eg: 9402, 9413, 9430 mid point being 9385

as for ma's for daily Use 20,50,100 ...

200 seems like overkill for daily trading ...

Jun 12, 2014 7:59am

Quoting wildmanmcgra

Disliked

what is a fractal?

Ignored

based on old billy williams chaos equation .....most of the signal generators based on it have the math wrong......hence they repaint themselves

eg: on my 5min chart I had a fractal sell signal @ 9411 & buy @ 9400
good for scalping

Jun 12, 2014 8:05am

Interesting to see that despite the bad employment change report, the move is still on the upside.

Note also that a weekly pennant has been broken on the upside.

Bullish

Jun 11, 2014 8:32pm

HA! I love it, Unemployent rate worse than expected, Unemployment rate better than expected...price spikes both ways. lol

Jun 11, 2014 8:51pm

Let's not forget February, March, and April when there was bad Aussie data and price still rallied. Be careful not to form only one opinion in price direction. Happy Trading!

Jun 11, 2014 8:42pm

it is appropriate that sell AUDUSD if we think clearly for the poor of the data expected by the market

Jun 11, 2014 9:09pm

yes very true .... it's true market direction can not be predicted .... but amid improving U.S. economy .... I think there is no reason to make a new peak .... this is just my thoughts alone

Jun 11, 2014 8:35pm

Two conflicting data, which one dominate?

Jun 11, 2014 9:57pm

Quoting Guest

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Wait for price to build a fractal then a break of that will prove its intension.....

Ignored

we cant trust Fractals as they keep on changing.

Jun 11, 2014 9:59pm

Quoting Adishaw

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Charts says SELL. Overbought territory.

Ignored

Range Bound between .93650 to .94090

Jun 11, 2014 10:00pm

Quoting Adishaw

Disliked

Charts says SELL. Overbought territory.

Ignored

But is there any Divergence? Then....?

Jun 11, 2014 10:00pm

Quoting anytime1991

Disliked

sell aud/usd

Ignored

better drop this idea and trade NZD /USD. Take long positions above 61.8

Jun 12, 2014 6:40am

Actually if you look @ the Fibs its been bouncing between them for hours ....basic stuff for low vol markets

Jun 11, 2014 8:42pm

anyone care to analys this news. thanks

Jun 11, 2014 8:45pm

price seem to come back to the news level

Jun 11, 2014 8:50pm

I think Unemployment figures will control the market hence the definition of employment change is : "Change in the number of employed people during the previous month"

I will say stick with buying mostly when it is bullish but take profit @ 0.94 and stay clear for a while.

Jun 11, 2014 8:34pm

sell aud/usd

Jun 11, 2014 8:39pm

Quoting Kok Teong

Disliked

Two conflicting data, which one dominate?

Ignored

Employment Change got huge gap between forecast and actual and it's more powerfull, But look at your chart and decide.

Jun 11, 2014 8:48pm

Charts says SELL. Overbought territory.

Jun 12, 2014 7:53am

Quoting Guest

Disliked

Wait for price to build a fractal then a break of that will prove its intension.....

Ignored

what is a fractal?

Trader#2AFF

Jun 11, 2014 8:40pm

Wait for price to build a fractal then a break of that will prove its intension.....

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Jun 11, 2014 8:30pm
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