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09/04/2015 NFP data release (EURUSD, GBPUSD, GOLD)


Yesterday’s non-farm payrolls (NFP) report wasn’t the best ones to day trade, in my view, especially in the case of the EURUSD. Although NFP proved to be much lower than consensus (173K against the expected 220K), the upwards revisions of the last 2 months, a solid wage growth (particular attention was being given to this data) and a lower unemployment rate (5.1%) did not took September off the table. As such, it was harder to have a clear sense on the direction of the USD.

In any case, after an initial shock (with also many stops being hit, probably) the direction appeared to be of a USD valuation, against practically every counterpart. However, if you had the strategy of waiting for a price correction before entering on a trade, even entering on the 38.2% Fibonacci level (1 minute chart) wouldn’t take you very far. I didn’t catch the move, but entering on the 50% level would be much better of course. But again, as the results were kind of mixed, it was harder to be confident on a clearer direction. In the case of the EURUSD the price ended up reversing afterwards.

Here are the charts for EURUSD (data was on at 13h30 GMT+0).

EURUSD, Daily chart

EURUSD_20_16 05_09_daily

EURUSD, 5 minute chart

EURUSD_20_15 05_09´_5minute

EURUSD, 1 minute chart

EURUSD_20_20 05_09_1minute

The case of GBPUSD was easier when it came to follow the price, tough. It reached the 23.6% daily Fibonacci level, after 8 days of consecutive falls.

GBPUSD, Daily chart

GBPUSD_20_51 05_09_daily

GBPUSD, 5 minute chart

GBPUSD_20_48 05_09_5 minute

GBPUSD, 1 minute chart

GBPUSD_21_02 05_09_1 minute


Gold was pretty straightforward, too. It continues to slide to what I believe would be the long term direction of the commodity.

Gold, Daily chart

GOLD_21_02 05_09_daily

Gold, 1 minute chart

GOLD_21_09 05_09_1 minute


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