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Nfpday

GOLD NFP MOVEMENT AND FORECASTAs based on the recent Non-Farm Payroll data which came 678k which is 211K more then last month's data and around 271k more then forecast which make the economic condition of US strong as a result we can possibly see bullish trend in US dominated currency pairs although on the other hand the situation between Ukraine and Russian is getting worse which is giving a direct fuel to the prices of commodities like GOLD which can be seen always inverse from USD while these fundamental movements stretching out the market we can catch sight of consolidating movements with momentary spike in GOLD prices. As the technical Indicating strong Buy for GOLD however Fundamentals are opposing the same while following the nearest resistance of around 1949 and support of 1943.
FXOPEN:XAUUSD
by FiscalAutonomy
1
NFT Trade USDCADI will be placing this order on USDCAD today, it seems logical to me. Due to NFP, risk will be reduced dramatically. This is my only trade of the day, good luck traders. Traders, if you have your own opinion about this idea, write in the comments section, I always reply. 💬 🚨 RISK DISCLAIMER : Trading Crypto, Futures, Forex, CFDs, and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use a tight stop loss. -------------------------------------------------------------------------------------------------------- Please like, subscribe, and share this idea with others! ⬇️ --------------------------------------------------------------------------------------------------------
Short
by AlkalineFX
7
Afraid to trade NFP or High News Day?In this video I explain why you should not be afraid to get involved in the market on high impact news days and some tips to avoid losses. This is a review of EU PA on Wednesday and Friday. In-depth look at entries at the end. Please excuse me saying GU in the video I am obviously reviewing EU also, I meant the BFI came back to the wick closing buy orders and opened more sell orders*. I just woke up and recorded this video so my brain is scrambled at bit. Hope you still understood what I meant. -Happy Trading Prettychinkfx
Long
by CydneyFleet
How to trade at NFP? Usually, average hourly earnings don't print positive. I have seen very few times NFP and Hourly earnings published positive together in the last 13 years. When companies hire more people, it's expected that they don't want to pay more and overtime. But, on the other side, companies don't recruit new people, and then they pay more overtime to their existing workers. That's why most of the time, we see Either NFP prints post or hourly earnings. Hourly earning is essential for the following CPI report. I mean, inflation reports are related to hourly earnings. NFP is the main report; there is no doubt. But in some cases, hourly earnings and unemployment play a significant role than the NFP. Moreover, especially when central banks want to raise rates, in the meantime inflation is essential. Central banks need more than 2% inflation to raise bank rates. In that case, hourly earnings are more important than NFP. So, it is expected that NFP will print positively than the previous report today, and hourly earnings may not fulfill its forecast. But last CPI reports were positive, So, it won't be wrong as well. What to do while you are trading NFP? When central banks are not hiking bank rates market always follows NFP. Whatever the other's reports are. If NFP print is upbeat, we should buy the USD. But keep in mind, though NFP reports are printed positive, hourly earnings and unemployment may drop. It is essential to keep in mind always that the market follows NFP eventually, not initially. So, if other reports print negative, The USD will become weak first. Then, after 5 minutes or 15 minutes, the USD will follow NFP from any swing area. On the other hand, If other reports prints positive but NFP report prints negative. In that cases, the USD will spike to the upside, but ultimately it will drop. Just keep in mind the situation that central banks are in rate-hiking mode or not. So give priority hourly earnings reports when the central banks are in rate-hiking mode. And usually, give priority NFP reports every time. How To Handle Technically While Trading NFP? If you want to handle the market at NFP, you should know swing trading and the uses of Fibonacci retracement and Fibonacci extension. Use 5 minutes candle. For example, the market closed with 5 minutes bearish candle, NFP printed negative, and other reports printed positive. So, the USD will spike to the upside first. So, if you are good at swing trade, you can sell from the swing area. Otherwise, you should use Fibonacci tools. If the market closed with a bearish candle, that means it will correct to the upside nearly 50% fibo area. So, go short from fibo 50% area and use Fibonacci extension tolls to set your take profit area at 61.8%. Just do opposite things if NFP prints positive and other reports prints negative.
TVC:GOLDEducation
by Gold_Trading_Expert
1
Do you switch off for NFP❓🤔I personally don't and this idea shows a EURUSD trade I'm currently in. We trade the plan and all the back test data at foot of this idea includes NFP days. Those spikes can be big and some times don't go the way we would like but on news days keep your risk and emotions in check. Trade details for current trade are shown on the chart. We are working the 15M time frame on this strategy. We're looking for the green line which is take profit target. Little red short arrow is entry point and purple line is stop loss. Previous trades can be seen on chart also that was a long that found TP. This was covered in one of my previous ideas also. Lets see how this one plays out on NFP day. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren
Short
by pow_removetheguesswork
1
Nonfarm-Payrolls expected effect on S&P500 (SPX) and EUR/USDDuring the last 10 months the correlation of surprises for ADP Nonfarm employment change and Nonfarm payrolls is positive (58%). This means that if we saw a negative ADP nonfarm employment change on Wednesday, we should see a negative nonfarm payroll today. This is however not certain. In fact, the February ADP came out with a -34% negative surprise while the NFP came out with a +108% positive surprise. The historical correlation of the nonfarm payrolls with the same day SPX return is around 6%. This is a non-significant positive correlation. On average, the SPX tend to register a positive return independently from the nonfarm payrolls report. For this reason, even if we are seeing a negative NFP figure today, the market is still probably gonna perform well. The average return of SPX on the NFP publication day is +0.48% (+0.80% if we exclude negative historical returns). Therefore, we expect a positive move with an accumulation in the $4450-$4470 area. Similar to the SPX, the EUR/USD cross tends to react positively to the NFP announcement in the 15/60 minutes period after the NFP announcement. In this respect, we expect a positive increase of around +15/+20 pips in the 15/60 minutes period after the NFP publication.
TVC:SPXLong
by CucabarraTrading
Gold battles recovery point on US NFP DayGold extends early week recovery from March tops to poke 50-EMA ahead of the key US employment data. The expected recovery in the headline Nonfarm Payrolls (NFP), coupled with the forecasts of downbeat Unemployment Rate, keep weighing on the metal prices. However, firmer RSI and MACD’s teasing of bulls may propel gold prices in case of a negative surprise from the stated jobs report. It should, however, be noted that a clear upside break of $1,780 immediate hurdle needs to cross the $1,817-20 area comprising the previous support line and 200-EMA to consolidate the previous month’s losses and regain the $1,800 threshold. Meanwhile, a downside break of the recent low near $1,750 has hopes to bounce off mid-April lows near $1,723, not to forget mentioning the immediate support close to $1,763. In a case where gold remains depressed below $1,723, the $1,700 psychological magnet may test the bears ahead of directing them to the double bottoms marked March around $1,677. Overall, gold sellers seem tired and hence any surprises from the US data should be reacted with wider moves.
OANDA:XAUUSDLong
by MTradingGlobal