Forexpros.com Daily Analysis - 01/04/2010

[forexpros]

ForexPros Daily Analysis April 1, 2010


Free webinar on ForexPros - "Simplify Your Trading with an Easy Strategy"

Expert: Kellie Durazo, FX V-room
When: Wed, Apr 14, 2010, 10:00 EST

During this webinar, you will learn how to simplify your trading by using a "tried and true" strategy. This is what Kellie Durazo likes to call the "universal" strategy, as anyone can learn it, from the beginner to the advanced. You can use it on any currency pair you like to trade. Don't have time to spend hours upon hours analyzing charts looking for set ups? Then this strategy is for you and anyone who loves to trade the FX market.

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Fundamental Analysis: Nonfarm Payrolls

Traders of the US anticipate the publication of the Nonfarm Payrolls. The payroll measures the change in the number of employed people during the last month of all non-farming businesses. The total non-farm payroll accounts for approximately 80% of the workers who produce the entire gross domestic product of the United States. It is the single most important piece of data contained in the employment report, which considered to offer the best overview of the economy. The monthly changes and the revisions in payrolls can be quite volatile. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. Analysts predict a future reading of 190.00K.

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Euro Dollar

The Euro broke the resistance specified in yesterday