As somewhat expected, we see the dollar trading in ranges amongst the majors.

Analysts are predicting the unemployment rate to rise back up to 9.5% and the number to come out between -240K to -220K.

For the EUR/USD, we see sideways movement and hopefully this breakout will help unveil some clues on its direction. On the upside, watch for price levels to potentially hit the 1.4360 area and downside movement to hit the 1.4100 area (potentially down to 1.4025 area).

Just a short distance from a major price point, the USD/JPY may have potentially seen a short-term bottom yesterday at the critical 91.75 price area. A break of this will potentially open up the pair for increased short trading. Depending on the report, look for upside potential to hit the 94.25 area.

Good luck with your trading in just a little over 4 hours from now.

We mention this all the time but if you remember this on one day - this is the day to watch your trades and place your stops. With all the high volume action, it is also important to watch you trades as well.

For those in the United States, we hope you have a happy (and safe) Labor Day weekend.

Greetings and welcome to another NFP trading day. I know a lot of Forex traders look forward to this day - it’s definitely a day that can either make you or break you very quickly

We’ll give you some analysis for the actual announcement as well as some potential movements for the next couple of days.

Economists predict a -330k to - 350k contraction in the job market and the unemployment rate is expected to climb a little further. If that happens, that plays right along with our technical analysis showing a short-term flat correction up then a 5 wave movement down before heading back up again.

This is a report day so keep your stop losses tight and be sure to monitor your trade.

We hope everyone has a good NFP trading session - make some pips and go enjoy your weekend.

Cheers!