JinDao_Tai

EUR/USD NFP Plan

Short
JinDao_Tai Updated   
FX:EURUSD   Euro / U.S. Dollar
14
Trade planning leading up to the USD NFP news event

The Euro have been trending down in the short term (past week).
Hence, I anticipate that the Euro could break support level and head further down, given that strong NFP numbers are released.

Although I do not want to predict the possible NFP data, I am preparing for a possible good NFP data, due to:
- ADP data was stronger than projected
- NFP projections are rather conservative (easy to beat)
- Hourly earnings and unemployment rate expectations are flat.

One of the possible factors that could complicate the analysis, is the impact of the US strike in Syria, leading to a monetary flight to safety.

What do you think of this analysis?
Looking forward to your comments below

Trade closed: stop reached:
In this case, because the NFP came out as a shocker
Actual: 98k
Forecasted: 174K

This drastic difference in the released data, due to a seasonality of employment, caused a signficant, but short term, weakening of the USD.

Point to consider is suitability of the risk:reward ratio

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