NFP Lousy momentum snorted the rally & not to unchartered territories

NFP week has become very tedious and unprofitable. As a daily trader, we wait for the whole week to have the NFP released and all we get a snorting rally, not surpassing 50 pips.

Media, reports, news, and many others are exaggerating in presenting NFP for the whole week and it is becoming an exasperation module to lessen trades for a whole week just to hear in the end the usual comments: real figure and the ‘revised’ never matches.

That weekly ‘litmus test’ has no more the same trading behaviour as the old years where at least twitchy 150/300 pips were used to spike within hours. We know that G7 decided to annul spikes on launching figures, but if they want us to trade solely on Interest rate, let us know so we can pack our materials and stay comfortably at home.

Pricking that NFP lousy balloon so let my newsletter survive a reliable commentary, I like to shift my writing to the CAD analysis.

USDCAD has been in major downtrend, and it is incomplete. Allow some major choppy trades ahead of 11220 where you should add to your bearish signal or open a nice short signal as CAD strength has not terminated its BOC weekly release. Target is heading towards 10700 the least, and to conclude in the long run towards 1.0000. Will usdcad applies the trading credence ‘Sell in May & Leave?’ Unfortunately, we don’t leave as we are daily traders of so many securities around. On the other part, eurcad has traded well towards my target which has been set for the long term at 14930.

Funny is why we don’t have a credence for the ‘bullish’ market?


Anthony Samaha
Trading Engineer


*** The Potential Flows of Trading Information constitute my judgment and are not trading recommendations. ***