Trade planning leading up to the USD NFP news event
The Euro have been trending down in the short term (past week).
Hence, I anticipate that the Euro could break support level and head further down, given that strong NFP numbers are released.
Although I do not want to predict the possible NFP data, I am preparing for a possible good NFP data, due to:
- ADP data was stronger than projected
- NFP projections are rather conservative (easy to beat)
- Hourly earnings and unemployment rate expectations are flat.
One of the possible factors that could complicate the analysis, is the impact of the US strike in Syria, leading to a monetary flight to safety.
What do you think of this analysis?
Looking forward to your comments below
The Euro have been trending down in the short term (past week).
Hence, I anticipate that the Euro could break support level and head further down, given that strong NFP numbers are released.
Although I do not want to predict the possible NFP data, I am preparing for a possible good NFP data, due to:
- ADP data was stronger than projected
- NFP projections are rather conservative (easy to beat)
- Hourly earnings and unemployment rate expectations are flat.
One of the possible factors that could complicate the analysis, is the impact of the US strike in Syria, leading to a monetary flight to safety.
What do you think of this analysis?
Looking forward to your comments below
Trade closed: stop reached
In this case, because the NFP came out as a shocker Actual: 98k
Forecasted: 174K
This drastic difference in the released data, due to a seasonality of employment, caused a signficant, but short term, weakening of the USD.
Point to consider is suitability of the risk:reward ratio
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join my mailing list jindaotai.com/joinme
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.