EUR/USD analysis and plan for NFP on Sep 6, 2019.
- KeonConsultancy.com
- Sep 6, 2019
- 1 min read
As expected, EURUSD formed stop grabber. 1D candle was closed below trend predictor (red line). I am now just targeting 50% of whole move up but slightly better NFP or even a neutral NFP may make EUR/USD penetrate last swing low on 1D/daily time-frame.
Before NFP, my current target may be hit or the trade may be closed at BE.
My plan for NFP:
Better or neutral NFP: Sell at 30-38.2% retracement of first spike down after NFP. It happens in minutes/seconds, so it needs quick decision. Target below previous swing low of 1D/daily time-frame.
Worse NFP: stay on sidelines.
Grabber got completed yesterday. Following ECB statement, EURUSD fell down to previous swing low on D1.
Closed existing sell position with 22+pips (before it hit TP) due to NFP.