FOREX Training | FOREX Non-Farm Payrolls October 6, 2006

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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