So the main question is, will the employment data confirm this breakout and complete the technical picture of further gains. Continue reading for the possible outcomes and how to trade them in the description below.
Jobs gain of 10K vs 7.3k last month.
Unemployment rate 6.1% from 6.0%.
Last month, full-time employment rose strongly by around 24k while Part-time employment decreased by around 17k. Participation rate was at 64.8% last month and its expected to remain unchanged.
The rebound scenario of 0.7350-0.7340 and the continuation of the recent breakout will be likely if:
- Job Gains of 10k and above
- Unemployment at 6.1 and below.
- Full time employment to continue to increase.
- Participation rate not to show decline
Long and target 0.7416 and 0.7500
- Job Gains of 0k and below
- Unemployment at 6.1 and above.
- Full time employment to decrease.
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