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Another NFP data release and another strange & unpredictable price action we just witnessed. The US employment readings where disappointing to some extent but not bad enough to create a real directional moves.
So, what are the today's NFP takeaways?
1. Well, for one, that the market is really focused on shorting Yen. USD/JPY corrected down for a brief moment but emerged as a winner.
2. That the dollar is still the king with one exception - British Pound. GBP/USD is eyeing 1.3450 - 1,3570 area to test, and that's where the really battle will take place - perhaps as soon as next week.
3. Euro is weak and with possible extension to ECB's easing, EUR/USD might test 1.0820 and possible go even lower.
4. In anticipation of more dollar gains oil is sliding fast.
5. The gold is the most unpredictable as typical correlations are broken.
It will be a very interesting month in FOREX markets and the action in equities will not disappoint with volatility.
My own trades broke even(more-less). I find NFP to be very difficult to trade, so I'm ending this first week of the Contest with just 14%.
So, what are the today's NFP takeaways?
1. Well, for one, that the market is really focused on shorting Yen. USD/JPY corrected down for a brief moment but emerged as a winner.
2. That the dollar is still the king with one exception - British Pound. GBP/USD is eyeing 1.3450 - 1,3570 area to test, and that's where the really battle will take place - perhaps as soon as next week.
3. Euro is weak and with possible extension to ECB's easing, EUR/USD might test 1.0820 and possible go even lower.
4. In anticipation of more dollar gains oil is sliding fast.
5. The gold is the most unpredictable as typical correlations are broken.
It will be a very interesting month in FOREX markets and the action in equities will not disappoint with volatility.
My own trades broke even(more-less). I find NFP to be very difficult to trade, so I'm ending this first week of the Contest with just 14%.
