Non-Farm Payroll Recap

Posted on 09. Jan, 2010 by Jakob in How To, Random Noise

Yesterday the Non-Farm Payroll number came out from US, and things went pretty crazy. The number came out worse than expected, and although it was not nearly as bad as it was a couple of months ago, we still got a strong reaction on the market. In the last couple of month, we have seen that the EUR/USD and the USD/JPY tend to have an initial spike in the same direction, and then after a minute or two the EUR/USD would turn around, whereas the USD/JPY would continue in the same direction. Yesterday was different; the EUR/USD spiked up immediately and the USD/JPY spiked down. This move kept going for about one hour and both the EUR/USD and USD/JPY moved close to 110 pips in this period. The following two hours we got a complete retracement all the way back to pre-release, and then finally it turned and ended up rather close to the top and bottom of the initial spike. Wayne McDonell from FX Bootcamp has recorded a video where he covers all the details of the NFP, and shows you exactly how to post trade the Non-Farm Payroll. If you are new to trading the Non-Farm Payroll, you might want to check it out. The only thing I don’t like about his approach is that he is talking about Fibonacci retracement and double tops on a one minute time frame; to me this seems completely irrelevant. However, it is still worth watching.

Related posts:

1. Non-Farm Payroll Tomorrow
2. EUR/USD and Non Farm Payroll
3. Non-Farm Payroll – Live Trading
4. Non Farm Payroll Webinar – TradingMetro
5. Non-Farm Payroll Tomorrow

Tags: Fx Bootcamp, Non-Farm Payroll, U.S Non-Farm Payroll