The forex headline number for Non Farm Payrolls was bad today. So the EUR should skyrocket… right? Wrong! Why did the USD strengthen after a terrible NFP release? Last month was revised upward by 60,000 jobs. Professional FOREX Traders expected a poor NFP, but no one saw this huge positive revision coming. Boom! As a result, the cable and euro dropped. As usual, a forex trade opportunity developed at the close of the 5 minute candle and a break of support… or a lower low. Pivots and Fibs then predicted likely bottoms. Traded the fundamental annoucement technically! FOREX, FOREX, FOREX, FOREX… you gotta love it!

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The USD is still growning strong. However, today’s CPI could change that. The FED, along with FOREX Traders, are watching for any signs of inflation. Today’s TICS data also could have an impact. In the end, price ended right where you’d expect it to… the M1 Pivot Point. Live FOREX Training | EVERYDAY! http://www.fxbootcamp.com

Full currency correlation for most of the US Session today. This allowed for several great trades using candlestick patterns, stochastic divergence, pivot points and fibonacci studies. LIVE FOREX TRAINING | EVERYDAY! http://www.fxbootcamp.com

It’s been a fantastic long term trending week for the USD. On the GBP/USD we were only 150 pips or so away from long term visual support we had identified months ago at 1.8512. As London began we found ourselves in a simple price trap with lower high’s and no lower lows. All that was needed was a little patience awaiting the break and a plan of attack. Whether you took the actual break, or the Fibonacci retracement after the break, you were rewarded with a rather painless 130 pips or so. If you were on top of things there was one sweet reload opportunity around 1.8590 as well. In this video we also discuss how after taking profit at 1.8512, using other methods of confirmation we were able to long the same GBP/USD at 1.8530 area. This ultimately amounted to another 130 pips into the NY session. Fantastic finish to a very technical week, enjoy the weekend folks.

FXBootcamp London Currency Coach-
Christian Stephens