The big day is finally upon us. It’s NFP Friday and i can hardly contain my excitement.
That’s a slight exaggeration, as i often sit on my hands during NFP’s, trim my positions beforehand and occasionally look to fade any knee-jerk reaction if i have a view. The only position i am holding going into this months extravaganza is my short EURUSD. K-man wrote a superb analysis with some forward thoughts on EURO here yesterday .I have my second target down at 1.1660. I will review my position if hit and consider keeping a core short depending on the price action post NFP.
My short GBPUSD trade from yesterday hit the target at 1.3110 and kept on falling. I will keep this one on watch as i still like the idea of selling into rallies.
GBPUSD-H1 update
USDCHF is stuck in the basing pattern that i have speaking about here for the last week or so. We could be seeing signs of life at last. A convincing move and hold is needed above 0.98, and i would like to see price clear the top of the blue band on my chart around the 0.9810 level and take out the trendline .
USDCHF-H4 update
Philosophy: "Trading rules.....it most certainly does"
Read how Horatio got into trading here
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Thanks H
Just watch for the 100 DMA at 1.3016 on cable
good stuff 🙂