News Name
CAD Employment MM - Change in the number of employed people during the previous month.
General
Recently this trade has provided a lot of pips!!! However it has some danger areas!
In February we saw -19 and .1 with a 17 pip spike and full retracement in a couple minutes. In March we saw -17.8 and -.2 with a 9 pip spike followed by a hard 19 pip push in the opposite direction. This was due to row 2 coming out in opposition to row 1. This is something to keep a close eye on. In April we saw an enormous deviation of 71.8 and -.2 with a nice 48 pip spike on the EUR/CAD. Retraced a bit and continued down into the 60 pip neighborhood where it stayed for 20 minutes. Should have moved farther but a good move nonetheless.
I would not expect a deviation quite that large again this month but it is not unusual to see good deviations on this trade. Like always, and particularly if you are planning to trade higher lots than normal, be highly alert to pre-news movement and be ready to click out if you see anything suspicious. Be safe, not sorry.
Another successful trade :)
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