CAN Employment Change | JO Bracket Breakout

Reports » Canadian Reports » CAN Employment Change

2/3/2012 Monthly Unemployment Report (0200 HI time / 0700 EST)
Non Farm Jobs Forecast: 23.3K
Non Farm Jobs Actual:2.3K
Previous Revision: n/a
Rate Forecast: 7.5%
Rate Actual:7.6%
SPIKE / REVERSE
Started @ 0.9966
1st Peak @ 0.9946 – 0201 (1 min)
20 ticks (2x bottom)

Reversal to 0.9959 – 0206 (6 min)
13 ticks

Notes: Moderately negative report showing a less than expected rise in the number of jobs when a larger gain was expected and a rise in the unemployment rate. The market spiked downward 20 ticks, crossing only the S1 line about one third of the way on its path before bottoming out just above the S2 line. With JOBB you would have filled short at about 0.9956. With the downward trend and no major SMAs, it would be okay to wait to close until the :02 candle and set a buy limit 1-2 ticks higher than the bottom of the :01 candle. The reversal was quick and recaptured more than half of the spike up to the 13 EMA.

1/6/2012 Monthly Unemployment Report (0200 HI time / 0700 EST)
Non Farm Jobs Forecast: 17.8K
Non Farm Jobs Actual: 17.5K
Previous Revision: n/a
Rate Forecast: 7.4%
Rate Actual:7.5%
SPIKE WITH 2ND PEAK
Started @ 0.9786
1st Peak @ 0.9765 – 0201 (1 min)
21 ticks

2nd Peak @ 0.9757 – 0207 (7 min)
29 ticks (2x bottom)

Reversal to 0.9767 – 0211 (11 min)
10 ticks

Notes: The jobs report basically matched the forecast while the unemployment rate rose by 0.1%. This caused a spike downward of 21 ticks, crossing all three major SMAs and the S3 line near the origin. With no other solid support to encounter, you would be wise to ride this report until you see arresting movement to the drop. With the :04 – :06 candles moving sideways and presenting a double bottom, that would be a safe place to exit. Then the :07 candle dropped for a few more ticks before the reversal recaptured 10 ticks in 4 minutes.

12/2/2011 Monthly Unemployment Report (0200 HI time / 0700 EST)
Non Farm Jobs Forecast: 18.1K
Non Farm Jobs Actual:-18.6K
Previous Revision: n/a
Rate Forecast: 7.3%
Rate Actual:7.4%
SPIKE WITH 2ND PEAK
Started @ 0.9864
1st Peak @ 0.9823 – 0201 (1 min)
41 ticks

2nd Peak @ 0.9821 – 0208 (8 min)
43 ticks

Reversal to 0.9855 – 0226 (26 min)
34 ticks

Notes: Overall negative report showing the exact opposite result of jobs lost compared to the forecast, and an increase in the unemployment rate by 0.1%. This caused a spike downward of 41 ticks, crossing all three major SMAs and the R1 line at various points on its path downward. The :01 candle could not sustain its drop and retreated back to the 200 SMA. Still it is common for this report to achieve a peak on a later candle, so it would be okay to wait it out. The :08 candle dipped 2 more ticks lower than the original peak. The reversal saw another dip before recovering most of the drop nearly 20 minutes later and having little trouble crossing the SMAs.

11/4/2011 Monthly Unemployment Report (0100 HI time / 0700 EDT)
Non Farm Jobs Forecast: 16.3K
Non Farm Jobs Actual:-54.0K
Previous Revision: n/a
Rate Forecast: 7.2%
Rate Actual:7.3%
SPIKE WITH 2ND PEAK
Started @ 0.9842
1st Peak @ 0.9772 – 0102 (2 min)
70 ticks

2nd Peak @ 0.9756 – 0115 (15 min)
86 ticks

Reversal to 0.9779 – 0147 (47 min)
23 ticks

Notes: Very negative report showing a big loss of jobs lost compared to the forecast of a moderate gain, and an increase in the unemployment rate by 0.1%. This caused a spike downward of 70 ticks, crossing all three major SMAs near the origin, and the S1 line closer to the bottom. The :01 candle was able to hold its value and the :02 candle dropped another 11 ticks. It is common for this report to achieve a peak on a later candle, so it would be okay to wait it out. The :14 candle would be a great place to get out after seeing a large red candle. The reversal was slow and laborious yielding 23 ticks, but taking over 30 minutes.

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