Day 308: Bipolar NFP

Profit: $0 Total: $1,618.64

The Employment Data came out positive of 215k vs 206k expected. Hourly earnings was also positive while unemployment rate came short of 5% vs 4.9% exp. The dollar took the initial data as very bullish which in turn crashed the EUR/USD, GBP/USD and other dollar pairs. However, the dollar bulls faded quickly during the afternoon. The push by the bulls was just not strong enough to keep bears away. Hoping this is just a retest of bottom followed by another rally in dollar.

Although I had fun with the dollar bulls earlier session, I caught myself losing profits when the bears kicked in. Not really sure what next week has in store for the dollar but I will be holding onto my EUR/USD shorts and USD/CHF long. I guess I was greedy to milk more out of the NFP movement, but thanks to the profits earlier on, my losses will be minimal.


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