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....
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....