Forex Signal (Fri January 7 2011, 8:30am NY Time EST) - US NFP Employment Change

[PipDog]

NFP Always Fun...Not Always Profitable

This was a good one. It had the conflicting numbers, variable direction price action, mixed dollar response. The dollar originally weakened across the board. Then the fun started. USD has continued to weaken against the GBP, started to strengthen against the AUD, continued to weaken against the JPY, strengthened against the EUR, started to strengthen against the CAD...Yee Haw!

Personally, I saw the USDCAD as meeting solid resistance at .99 and theorized that the 9.4% Unemployment rate would cause some USD strength. So, I bought the USDCAD at just above .99. Have taken profit @ .9930, .9940, and am looking for final TP @ .9950.

I don't know how you could of used any logic to play either the EUR or the GBP. I guess a retrace and sell on the USDJPY could be argued...and would of worked.

Can't wait till NFP next month....

 

[naser_mohammad]

HAzing Effect

The results were fluctuating between +ve and -ve effects on Dollar, hence the trader who is solely relies on fundamental analysis style in his trading will loose, sure.
Any comments from Mr Henry or Crazy Cat,
Waiting

 

[Simanas]

Have you guys ever tried to piss in a storm?

 

[PipDog]

Have you guys ever tried to piss in a storm?

Fairly close approximation....