The US Non-Farm Payrolls certainly had an effect. The EUR/USD pair could not break above the resistance at 1.1470 and fell over 100 pips. Unfortunately it couldn't break below the support at 1.1320, so I suppose range will continue. It looks like we will have to wait until Monday again for any more substantial changes, as frustrating as that thought might be. At least I managed to open short positions on time after the payrolls, so I could make a profit after all. I decided to close all of them today, however, because I cannot be sure what the situation will be on Monday when the market opens again.
Friday, 6 February 2015
The US Non-Farm Payrolls certainly had an effect. The EUR/USD pair could not break above the resistance at 1.1470 and fell over 100 pips. Unfortunately it couldn't break below the support at 1.1320, so I suppose range will continue. It looks like we will have to wait until Monday again for any more substantial changes, as frustrating as that thought might be. At least I managed to open short positions on time after the payrolls, so I could make a profit after all. I decided to close all of them today, however, because I cannot be sure what the situation will be on Monday when the market opens again.
Labels:
eur/usd,
forex trading
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Interesting stuff.
ReplyDeleteVery important movement.
ReplyDeleteA lot of volatility during the NFP event.
ReplyDeletegreat analysis.
ReplyDeletelooks like double bottom
ReplyDeleteBack to ranging.
ReplyDeleteCongratulations for the profitable trade.
ReplyDelete