The non-farm payroll report releases by the United States Bureau of Labor Statistics contains information on the current employment situation in the US.Non-farm payroll data creates large market moves in both the stock and currency markets. Average price movement right after the release is about 40-80 pips depending on the significance of the release and the price can move up to 100-130 pips before the end of the day.
A profitable strategy would be to spot the chart formation (bullish ascending triangle), notice that MACD is above zero signifying potential upward move. Once these technical parameters are identified place a buy order at 1.3287 (10 pips above the resistance) with a stop at 1.3272 (15 pips below the entry) and first profit target at 1.3217. Result รข€“ 30 pip profit.
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