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newdigital, 2014.01.10 10:24
Trading the News: U.S. Non-Farm Payrolls (based on dailyfx article)
U.S. Non-Farm Payrolls (NFP) are projected to increase another 197K in December and a better-than-expected print may heighten the bullish outlook for the dollar as it raises the Fed’s scope to further normalize monetary policy over the coming months.
What’s Expected:
Why Is This Event Important:
A pickup in job growth may spur a further shift in the policy outlook as the Fed starts to wind down its asset-purchase program, and the central bank may take a more aggressive approach in moving away from its easing cycle as the economic recovery gathers pace.
How To Trade This Event Risk
Bullish USD Trade: NFP Rises 197K+; Unemployment Holds or Falls from 7.0%
- Need to see red, five-minute candle following the print to consider a short trade on EURUSD
- If market reaction favors a long dollar trade, sell EURUSD with two separate position
- Set stop at the near-by swing high/reasonable distance from entry; look for at least 1:1 risk-to-reward
- Move stop to entry on remaining position once initial target is hit; set reasonable limit
Bearish USD Trade: U.S. Employment Falls Short of Market ForecastMetaTrader Trading Platform Screenshots
AUDUSD, M5, 2014.01.10
MetaQuotes Software Corp., MetaTrader 5, Demo
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