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A Sweet Non Farm Payroll Trade

Some textbook trading today on the EURUSD. We’ve seen crazy moves to both the North and south side on the EURUSD. We watched the price break 1.36000 over the course of the evening and then we watched it break even higher to 1.3670. It consolidated for a couple hours before news time. Price then jumped at the NonFarm payroll release for 30 pips. It then shot back down 30 pips before making a secondary move for another 30 pips. Since the news event has ended, prices saw 1.36000 once again and a couple hours later it is now up past 1.37000. Wild Day for sure.

Today’s trade was very interesting. We had textbook news trading all over it. We mentioned this in the video, as well in previous posts. If price were to move one direction, then reverse on itself, breaking the lows of the original news event, we seek the second move in that direction. This set up perfectly for our news event trading. Price moved in our favor by 15 Pips before reversing back down to the south side near resistance one. This price level was around 1.3589. Price continued to move up through resistance two, resistance three, and the purple line 1.3600. This means price has broken the highs of the day and of course the highs of the news event. We could see 1.37000 by the end of the day.

In the image below you can see three different arrows. You can see the first arrow, which is the original news event at 8:30 for nonfarm payroll. Price then moved down through resistance three where we took our trade at that second arrow pointing up. You can see the next two candles going in our direction giving us that 15 Pip winner Soon after our entry closed, price moved down to new lows for the morning. You can see how Price then bounced off resistance one and has now continued to the North Side. This thing has some serious legs.
News Trading the EURUSD
The second image below is what happened during the Asian session and late evening on the US East Coast. The past couple of whole numbers have broken through when the majority of traders were not looking. This the textbook trade on a breakout. You can see how Price broke through the North Side of 1.3600. A wick formed at the top of the candle and proceeded to go back down to the 1.3600 purple line. Price then bounced up over the course of next hour giving any Forex trader 20 pips or a nice win on the binary options trading market. Always be aware of breakout/pullbacks around whole numbers.

Asian Session Breakout

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