Trading results and Non-farm Payrolls (NFP)

Another month and another NPF news announcement. This might sound like the bad end to a news headline but believe me, it’s not the case at all when you see the result. Analyzing the markets this morning our technical experience dictated further bullish continuation after some retracement on the back of positive news from currencies opposing greenback. However the expectation for the NFP was leaning towards a positive outcome and from what occurred this afternoon, the fundamental data did not fail.

Some analysts suggested some relieve from of the long run the Dollar has been having but the growth the USD saw in the second quarter of the year of 4.6%, is indicative of the way US policies are succeeding to improve economic growth. The Dollar is fighting hard to hold on to its title as #1 and not give it up the JPY. We will just have to wait and see what happens from here on in.

With this in mind and all our technical indicators confirming our expectation, we took a position to buy the USDCHF at 0.9572 and reached a level of 0.9660 to take profit and achieve just above 12% return on the first trade, with the second still running course with the price on its way higher. Even though the impact of the NPF data was felt across the board, the first opportunity was presented by the USDCHF. Some of the other pairs are moving closer to meet our criteria for entry…but you will have to keep watching for news about that. We will continue to monitor these pairs and ensure to take the opportunity if it presented itself.

So once again, congrats to all the traders who took the trade with us and a special welcome to Ryan Ward who has seen what the potential of forex is.

Have a wonderful weekend and happy trading.

#tradingresults #nfp