In anticipation of the spreads, I shorted the EURUSD pair much earlier on in the release of the Non-Farm Payrolls. Of course, I still watched this event unfold live. As I was overall bearish of this pair like everybody else, it only made sense to short.
This is the trade I took. As you can see, I was in it much earlier on in the night. I held it through the original dip and closed it out at an acceptable profit. Overall, netted approximately 145 pips. Not a bad start for my morning.
In the meantime, my EURJPY target has finally been hit. I priced it at 131.60~ and it looks like price is stalling here. This is a possible support zone so I would definitely exercise caution for any continued selling.
Price is currently stalling post-NFP trading. I don’t expect much movement as the markets near a close for the weekend. I expect just a slightly higher close as short sellers cover close their orders for the weekend to avoid the rollover. This should be followed by a slightly higher open before we see further selling.