The NFP release, typically the first Friday of each month, historically has been a very volatile time to trade. In 2019, this was not the case and so I decided to watch the markets today and see if a trade would set up.
After a disappointing number today of 145,000 new jobs versus the expected 164,000 and a previous 243,000 jobs, the USD moved lower and the market moved into “risk off” mode.
A short was taken in the USDCHF risking 12 pips for a potential 41 pips to our daily target at .9708. Price moved lower as the market positioned itself toward safety.
Price continued lower to test its daily low and moved slightly higher going into the U.K. close where we exited the trade.
Enjoy your weekend and good luck with your trading!
