This night at 9.30pm Malaysian local time is the release of Non-Farm Payroll (NFP) report during the New York opens . It is considered to be the mother of all economic reports. A change in the expected result of 162k from previous release of 157k will trigger the price action volatility. From my experience, the price action could reach to 200 pips or more on upside or downside. I do trade this report but only after 15 minutes of the release time. It means that this night I will decide on what position entry on 9.45pm local time onwards. The pairs that I will look into is the EURUSD, USDJPY and EURJPY. Why, because I have been following the price charts movement all this while.
As for EURUSD pair, refering to the daily chart as posted here, stochastic shows oversold condition. So the next anticipated target is on bullish. I will look for the price action to give the buy signal. In order to to confirm the buy signal, must look on price action in 15 minute chart time frame during the release time of NFP.
Hopefully bags a lot of pips this night.
No comments:
Post a Comment