Friday, August 03, 2007
NFP today impacted the EUR/USD
NFP today impacted the EUR/USD
Today Non Farm Payroll were announced. As always it caused some ripples in the market and that set the market in motion. EUR/USD especially broke out of the range which it was in for last 2 days.
If you llok at today's NFP announcement, it led to a partial bullish candle on 1 hr chart. After the candle closed at 9 AM EST, the next candle closed outside the highest of the 8 AM candle. That was a huge bullish signal to trade.
Also this forex signal can be considered to be even more stronger considering that the currency pair broker the 200 EMA.
Thats the point when I entered the trade with a very conservative target of 30 pips which is because this is Friday and market will close very soon.
With in next candle my limit order was reached and I ended with 30 pips profit.
Though not very popularly followed, the candlestick analysis is very important and useful.
Thanks all in this session.. Visit again to learn more on forex trading.
Today Non Farm Payroll were announced. As always it caused some ripples in the market and that set the market in motion. EUR/USD especially broke out of the range which it was in for last 2 days.
If you llok at today's NFP announcement, it led to a partial bullish candle on 1 hr chart. After the candle closed at 9 AM EST, the next candle closed outside the highest of the 8 AM candle. That was a huge bullish signal to trade.
Also this forex signal can be considered to be even more stronger considering that the currency pair broker the 200 EMA.
Thats the point when I entered the trade with a very conservative target of 30 pips which is because this is Friday and market will close very soon.
With in next candle my limit order was reached and I ended with 30 pips profit.
Though not very popularly followed, the candlestick analysis is very important and useful.
Thanks all in this session.. Visit again to learn more on forex trading.
Labels: candlestick, EUR/USD, forex Entry, forex pips, nfp, non farm payroll, voltile currency pair
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Oh, it's very useful to know for each forex trader. Thanks! For more information please visit my blog Online Forex Broker
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