EurUsd
- Thread starter munnyhunny
- Start date
Quick recap of what happen after the NFP release yesterday 1/8/16. I will explain the reason why we had good number but the dollar still weaken against the euro. We had 292k which beat expectation previous 203k, Unemployment rate was unchanged at 5.0% and Average hourly earnings expected .2% and came out .0% miss on expectation. The average hourly earnings was a disappointment to the markets because the need to see wage growth ticking up which in fact will give them confidence regarding inflation which is also below estimate or forecast. In this chart i will demonstrate where buying opportunities were if you had the knowledge and understanding of whats happening. After the NFP release we saw a spike down off the release that gave up buying opportunities when most retail traders prob was selling because the numbers came out better than expected.
I can see two scenarios here – the basic (1) and alternative (2).
and I anticipate 1.
By the way, Mifar what moving average (in red) are you using there ? Is it 50?
Do you care about these brokers?
I don't think they influence price directions cos I don't see they names on interdealer market; only those (a.k.a market makers) who trade on Interdealer market influences price direction.
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Do you know how the "exit poll" works? The same here. We don't care if the broker connected to real liquidity or not, we just know that the crowd lose money.
Here are backtests for eurusd: