This week has been a sleepy week despite important events like ECB, manufacturing data, ADP and of course, tonight, NFP?!
Since there weren’t any trading opportunities throughout the week, it would stand to reason that the FX markets would be ‘itchy’ to create a movement if a sufficient reason was given.
Today’s NFP to cap off a lacklustre week or is it?
Anyway, we had to be there, so at 8:28pm, I put in my trade as follows: –
EURSUD: Stop if Offered; 1.1125, Spot; 1.1154 and Stop if Bid; 1.1180 with corresponding SLs at 30bps away on both sides of the goal posts.
As it turned out, NFP came out at a shocking 38K versus forecast of 159K, with alittle offsetting by unemployment rate at 4.7% verusus 4.9%
My Bid trade was triggered at 1.1180 and I waited till about 5 minutes later and squared at 1.1260 for a trading profit of 80bps……….not bad!
Thank you NFP!!!
Everyone have a great weekend!
I am out of here and going to take my wife out to meet friends for drinks.
The Panthenon Investment Group 