Good day forex traders.
Ha ! Yes.. this is my personal way of addressing the US NFP. Shouting included! Over the years many readers told me about how they lost their money due to a margin call from trading the US NFP. Sad waste of money 🙁
Solution : ProRealTime
Looking at the EUR/USD 4 hourly chart above we noted that the currency pair seems to be edging upwards. Having said so, as expected the 1.26 region continues to maintain a strong hold on the movement.
The ECB decided to hold on to the current interest rate and this will probably inject some positive sentiments into the market. While the US ADP Non-Farm Employment Change reported a 201,000 gain in jobs, the markets are usually more focused on the US NFP. ( As seen from the lack of any big moves ) Take heed, it is not 100% that these two data correlate and hence caution still must be exercised in case of any adverse development.