Sunday, December 10, 2006
Forex Day Trading System - What happenned in last Non Farm Payroll (NFP) Announcement?
Forex Day Trading System - What happenned in last Non Farm Payroll (NFP) Announcement?
Hello Everyone.. my this post is after quite a few days..2 weeks perhaps..I was busy with few things.
Did anyone of you notice what happenned during last friday (8-Dec-06) Non Farm Payroll fundamental announcement? Infact it was a combination of the announcement and what happenned few hours after the announcement.
The NFP numbers when declared were Dollar bearish meaning that all the major currencies such as EUR/USD, GBP/USD etc started going up..EUR, GBP all started becoming more stronger to USD..
Enter Mr Henry Paulson..Treasury Secretary. He makes a statement that the NFP numbers that morning were very good for US Economy. He also said that economic growth is going towards sustainable levels..
Can you guess what happenned next? Yes...The market which was going anti-dollar, started going pro $$$ immediaty and started to reverse.
So, this is a classic example of the impact of fundamental announcements on market trend.
So, whenever, you place a trade, you need to consider when important news is going to come out. This is very important in case of forex day trading and a system should cover it.
Thats all in today's session..Please visit again to learn forex trading online
Hello Everyone.. my this post is after quite a few days..2 weeks perhaps..I was busy with few things.
Did anyone of you notice what happenned during last friday (8-Dec-06) Non Farm Payroll fundamental announcement? Infact it was a combination of the announcement and what happenned few hours after the announcement.
The NFP numbers when declared were Dollar bearish meaning that all the major currencies such as EUR/USD, GBP/USD etc started going up..EUR, GBP all started becoming more stronger to USD..
Enter Mr Henry Paulson..Treasury Secretary. He makes a statement that the NFP numbers that morning were very good for US Economy. He also said that economic growth is going towards sustainable levels..
Can you guess what happenned next? Yes...The market which was going anti-dollar, started going pro $$$ immediaty and started to reverse.
So, this is a classic example of the impact of fundamental announcements on market trend.
So, whenever, you place a trade, you need to consider when important news is going to come out. This is very important in case of forex day trading and a system should cover it.
Thats all in today's session..Please visit again to learn forex trading online
