US Non-Farm Payroll (NFP) News Trade 04/06/12 (+24 pips)

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DEFINITION
The US Non-Farm Employment Change measures the change in number of employed people during the previous month, excluding the farming industry. A rising trend has a positive effect on the nation´s currency. Job creation is an important indicator of economic health because consumer spending, which is highly correlated with labor conditions, makes up a large portion of GDP. This report is the first of the month that relates to labor conditions, making it susceptible to big surprises.

UPDATE
The US NFP Employment change actual release number came out at 120K, much lower than the expected 205K forecast; and unemployment was slightly lower at 8.2%. Despite an initial reversal reaction on the EUR/USD pair, Henry entered a buy on the EUR/USD pair at 1.3076 because of the much lower than expected US NFP Employment Change number. In a few minutes, we closed 50% of the trade for 35+ pips of profit and moved the SL to break-even, and them we closed the remaining 1/2 position at around 12+ pips of profit; yielding a total of about 24 pips of profit.

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About Henry Liu

My name is Henry Liu and I am a Forex Trader and Mentor. I help traders achieve consistent income trading Forex while spending less time trading. My focus in trading is a combination of Fundamental Analysis, Technical Analysis, and Market Sentiment. Far too many retail Forex traders concentrate on just one aspect of trading, technical analysis, and ignore everything else; it is my goal (and vision) to educate every trader on how to take advantage of news trading and become more balanced traders.

You can find more information about me on my Google Profile.

Comments

  1. Ebere Arungwa says:

    Dear Henry Liu,
    You made my trade a glorious day yesterday during the US NON-FARM PAYROLL(NFP)
    news which i made up to 70pips and my trade is now at the positive side, thanks for your tremendous help keep it up, I need your trademetre please help me God bless you Sir
    Best
    Ebere

  2. you should have traded gbp/jpy,

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