Thursday, May 3, 2012

WAITING FOR NON-FARM? WELL MAYBE NOT!

YES, THIS IS NON-FARM WEEK, BULLISH VOLUME FOR STERLING IS A LITTLE LOW, WHICH IS TOO BE EXPECTED, MOST OF THE TIME.

STERLING TECHNICALS GOING IN NON-FARM FRIDAY:

SUPPORT FOR A BULLISH STERLING IS, 1.6187... CURRENTLY STERLING IS AT, 1.6184 (8:24 P.M. EST.) THE NEXT TECHNICAL LEVEL TO BREAK BULLISHLY IS, 1.6208 IF SUPPORT IS FOUND THE NEXT LEVEL WILL BE, 1.6222 AND FINALLY A STRONG BULLISH STERLING HITS 1.6242 AND ABOVE FOR NON-FARM FRIDAY.

IF STERLING DOESN'T FIND SUPPORT AT 1.6187 THE NEXT TECHNICAL LEVEL IS, 1.6166 IF BEARISH VOLUME CONTINUES THE NEXT LEVEL FOR SUPPORT IS, 1.6152... FINALLY IF NOT BULLISH SUPPORT IS FOUND AT THIS POINT, STERLING MAY HIT, 1.6132...

ALSO, EVERYONE IS FOCUS ON, NON-FARM NUMBERS DUE OUT OF THE STATES, BUT THERE IS SOME STRONG OR STATUS HIGH FUNDAMENTAL RELEASES DUE OUT DOING THE ASIAN SESSION AND THE STERLING SESSION!!!, STARTING IN ABOUT A HOUR WITH A RELEASE FOR THE AUSSIE, STATUS-HIGH........

THE FRANC HAS RETAIL SALES NUMBER DUE OUT, STATUS-MED..3:15 A.M. EST..
THE EURO HAS ABOUT 5 FUNDAMENTAL RELEASES DUE OUT BETWEEN 3:45 A.M. EST. AND 4:00 A.M. EST, STATUES-LOW THRU HIGH...

WELL, WE ARE TRAINED TO BE SAFE THE LAST DAY OF WEEK, ESPECIALLY DOING NON-FARM FRIDAY, BUT BASE ON THE ECONOMIC CALENDAR FOR THIS EVENING AND THE STERLING SESSION, WE SHOULD HAVE STRONG VOLUME FROM THESE RELEASES BEFORE NON-FARM AT, 8:30 A.M. EST FRIDAY....

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