Hi there my Forex friend.
Let's first review what happened on Friday.
At 7:00 a.m. we had Canadian Employment Change. It came out much worse than expected but at the same time the unemployment dropped by 0.1%. 0.1 deviation on unemployment is not significant and because the employment number was so bad, USD/CAD went up by about 50 pips immediately. After a nice retracement it went even higher. It is nice to see that there are still some reports that move very nicely on spike trading.
Then at 8:30 a.m. we had U.S. Non-Farm Payroll. It came out WAY worse than expected. It was really bad. In fact, this is the worst number in over 30 years. USD/JPY spiked down really nicely so if someone traded it with SNW, it was another really nice trade. After a retracement there was also plenty of opportunities to enter after the spike.
Let's talk about Monday.
There is nothing tradable on Monday. UK PPI? Forget. Even CPI is really hard to trade now, and PPI was always much worse to trade. So there is nothing to trade on Monday - just a short signal to skip that PPI report.
That's all for today.
Have a good trading day.
Thanks,
Crazy Cat & Sir Pips.
Let's first review what happened on Friday.
At 7:00 a.m. we had Canadian Employment Change. It came out much worse than expected but at the same time the unemployment dropped by 0.1%. 0.1 deviation on unemployment is not significant and because the employment number was so bad, USD/CAD went up by about 50 pips immediately. After a nice retracement it went even higher. It is nice to see that there are still some reports that move very nicely on spike trading.
Then at 8:30 a.m. we had U.S. Non-Farm Payroll. It came out WAY worse than expected. It was really bad. In fact, this is the worst number in over 30 years. USD/JPY spiked down really nicely so if someone traded it with SNW, it was another really nice trade. After a retracement there was also plenty of opportunities to enter after the spike.
Let's talk about Monday.
There is nothing tradable on Monday. UK PPI? Forget. Even CPI is really hard to trade now, and PPI was always much worse to trade. So there is nothing to trade on Monday - just a short signal to skip that PPI report.
That's all for today.
Have a good trading day.
Thanks,
Crazy Cat & Sir Pips.
