Like all Forex traders should know, the first week of each month, has the best opportunities for large profits. The reason that the U.S. the Non-Farm Payrolls report, released on the first Friday of each month.
In recent months, the deteriorating labor market in the U.S. has finally begun to stabilize. For the month of March, the payroll increased. Current expectations are a problem of unemployment in the U.S. to continue the recovery in April, and economists forecast that payrolls grew by 197,000.
This means that there are two logical outcomes of release on Friday. If the final result exceeded expectations, the dollar is likely to continue to strengthen against all the majors. However, if the actual result will not meet expectations, they might witness a technical correction. The recent upward trend of the dollar also means that a technical correction is due in a matter of time, and what better time for that after a disappointing report Non-Farm Payrolls?