why it provides tight spreads. The short and simple answer is: NFP is good for scalpers and long-term traders and not recommendable for intra-day traders picking 1 position a day (using 15min-1 hour time frames). When investors get confused Aprils data was also very interesting to watch because the NFP data came in mixed and such a scenario usually always leads to a lot of volatility without direction as investors dont know what to make out. 2) Fundamental traders: the floor is yours/its your show. Its an important indicator for how well the US economy is doing and investors watch this report closely. EUR/USD is probably the heaviest traded pair. There is generally a price movement of around 30 pips. Conservative traders would enter the trade 1 pip above or below the new extreme (high or low).
It reflects statistics of unemployment which is highly relative as per currency values. The data includes all paid workers, excluding government employees, private households, non-profit organizations and the farming industry. Wait for a small pullback. But this works for most people who trade NFP Forex. Here is a method how a Forex trader could trade the NFP: The NFP figure causes the price to spike in a direction (up or down is irrelevant).
It also depends on which type of movement during the NFP: a) 1st movement à Institutions. Clear competitive pricing, maximize your potential with straightforward, reliable pricing and option volatility and pricing strategies trading exceptional trade executions. On the other hand, when the economy is doing well, companies hire new employees who now have more money available and can use their additional income to buy things and boost the economy, further increasing the need for companies to hire more people to meet. So, traders of this pair probably stand the chance to benefit the most. Leverage our experts, our global research team identifies the information that drives markets so you can forecast potential price movement and seize forex trading opportunities. Pre-defined and fully customizable layouts, integrated advanced charting tools with on-click dealing.
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