Happy Friday and NFP Day!
We close a volatile and active Data-Point heavy week with the Non-Farm Payroll Report on the state Employment in the U.S.
Not surprisingly… Consensus is negative and filled with “Bearish Sentiment looking for additional Job Losses between 500K and 800K for the month of February, and an expected rise of the Unemployment Rate from 7.6% to 7.9%, respectively.
As usual… the Key here is to see the “Numbers INSIDE the Numbers”… as the “Headline” Data is only a “Catalyst” for Price Activity.
The true health of the Employment situation can be seen in looking at the “deeper” Numbers in the various Sectors and Categories of Data.
With the current state of Market Behavior over the last several weeks, the Data Points may be largely “irrelevant” to Price Action… as we have have plenty of “counter-intuitive” and Risk-Averse Sentiment out there…
Let’s check in with our three Majors from our previous Post, and see how our “Quiet” consolidative Action has developed.
Post-Time tonight (for me) is 3:30 GMT, and give the Captures a Click!
Some simple Technical Criteria to observe as we move through the Asian Session into London and Europe.
We will return for an Update, as always, prior to the Data Points to see where we are!
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