Sell EUR/USD | Dec 4, 2019 | London Session
Watch video for fundamental & technical analysis with clear explanation of SL, TP & entry level.
Trade active:
Impact of ADP-NFP will be short lived, main market mover will be ISM Non-Manufacturing PMI. I will place my SL 6.0 pips above market price right before release of ISM Non-Manufacturing PMI.
Trade active:
Re-entered sell and continuing with the plan as upward move post release of ISM Non-Manufacturing PMI. proved to be temporary.
Fact: ISM Non-Manufacturing PMI came slightly less than forecast but the deviation is too small to be bearish for USD.Forecast (shown on calendar of many sites) is an average of forecasts of many analysts, it is not a fixed figure, different analysts have different forecasts, so price action post release is the key to enter a news trade. Therefore, I entered sell again.
Fact: ISM Non-Manufacturing PMI came slightly less than forecast but the deviation is too small to be bearish for USD.Forecast (shown on calendar of many sites) is an average of forecasts of many analysts, it is not a fixed figure, different analysts have different forecasts, so price action post release is the key to enter a news trade. Therefore, I entered sell again.
Trade active:
Actual of NFP as well as revision came positive. Unemployment rate came positive too. New target of EUR/USD is 1.10000 + 1.0 pip + spread and new SL is 1.11160 + 2.0 pips+ spread.