+100 pips : Low Non-Farm Payroll Figure Boost Euro...

A disappointing day for those who's expecting USD to gain back against dollar after the Non-farm Payroll reported only 138'000 is added against the expected consensus of 200'000. But definately I'm not disappointed and in fact I was delighted! The only part I regretted was not being fast enough to place a trade at 1.2595 after the data was released. It was seen that the EUR/USD is lingering around 1.2580-90 area for most of the day setting up the channel with a trading range of approximately 35 pips which was considered smaller than the one which was created yesterday before the ECB rate decision. The move was too fast after the unexpected lower-than-expected NFP is reported. Even I was expecting strong NFP to support the greenback to move the Euro slightly lower attracting more traders and then head for the line of 1.28. During the Asian session and London session, it was expected to see not much of action as the market is anticipating the supposedly 'strong' NFP. But unfortunately, it turned out the other way. A screw up day for greenback traders.

However, with the oil trading lower today, less than USD 70, with a supportive Personal Income data which was released earlier of the week and a strong NFP figure would create a reversal at a faster pace for the EUR/USD but seems currently, it's not gonna happen. I would see the price hit 1.29 or might even touch 1.30 now. I might be wrong though, but the market will tell me the answer. The Friday New York session closed, EUR/USD is at 1.2727 and USD/CHF at 1.2262. The closing for the EUR/USD is near a fibo line 61.8 measured from today's low to today's high. Temporarily, a reversal sign has not shown up yet but a drop for EUR/USD below 1.2620, I would consider taking profit for my trade at 1.2610. While anticipating on the May 10 FOMC rate decision, I will still go long in EUR/USD. My next trade would be 1.2810 for EUR/USD, 50 pips from my last position taken, just for profit taking. I might even place another position at 1.2735 going Long on EUR/USD. This would however depends on the market on Monday. Hopefully, this rally will continue for a few more days hopefully reaching for a high of 1.3000.

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Completed/Closed Trades
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Long EUR/USD @ 1.2660, TP @ 1.2710 ( +50 pips )

Long EUR/USD @ 1.2710, TP @ 1.2760 ( +50 pips )

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Existing Trades
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Long EUR/USD @ 1.2610

Long EUR/USD @ 1.2760

Long USD/CHF @ 1.2380

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Trades that I'm still waiting
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Long EUR/USD @ 1.2810

Long EUR/USD @ 1.2860

This would be the trades that I'll be waiting in case the Euro continues to rally, however if the greenback takes advances, I would see it as a temporary retracement if the advances are not too much.Then I would put a trade at Long EUR/USD 1.2645 the 2nd of May opening price.