Non-Farm Payroll Today
One of the biggest events on the forex market just took me place today many made huge profits whereas others made huge losses. On the first Friday of every month NFP takes place and during this time the market is extremely volatile so much so that if your predictions go wrong a lot of bad things will happen. This month NFP has to be done today which is a Thursday due to the upcoming holiday.
During NFP Gold and USD currency pairs react the most and this time round we saw the USD base pairs rising with gold falling. NAS100 also reacted accordingly by rising massively together with Ger30 and US30. For an amateur trader if your fundamentals ain’t so good is always advisable to get a hang of the direction before jumping in, sniper entries wouldn’t do you much good if you end up losing or blowing your account.
The forex market is an interesting place to make a good living but always remember knowledge is essential, don’t just jump in because everyone is doing it. One step at a time and eventually you will get there.
