Ok, so regular/previous readers will know where this is going from the play on the first three words in the header,
As for the NFP data itself you all ( apart from the welcome newcomers) know my thoughts by now about trading into such key data. Leave the crystal ball in the bin and trade what you see upon the news hitting our screens.
How crucial this data is nowadays is subject to conjecture and, in any case is and always has been, just part of the picture, but these are nervous and needy markets with nervous and needy traders. Not a good combination for rationale but a heady cocktail for some trading opportunity even it is fast and frantic
Key levels close by that I’m looking at are:
- GBPUSD 1.6845-55 1.6790-6810 and 1.6915-25 1.6950-60
- EURUSD 1.3835-25 1.3775 and 1.3900-10 1.3950
- EURGBP 0.8190-8200 and 0.8235-45
- USDJPY 102.25 102.00 101.80 and 102.85 103.00-10 103.25
- USDCHF 0.8775-85 0.8750 and 0.8825 0.8850
- AUDUSD 0.9240-50 0.9200-10 and 0.9320-30 0.9350
- USDCAD 1.0935-45 1.0900 and 1.1000 1.1020-30
Buy low, sell high or sell high buy low depending which way we go first. Remember to keep it simple and don’t ask too many questions. We haven’t been in large ranges for a while so don’t get carried away. If we do break out then enjoy the ride
And as I also always point out on these occasions, ours is not to reason why, ours is just to sell and buy.
Good luck out there one and all
