FOREX Trading Review Video 08 MAY 09 EUR/USD : Non Farm payrolls (NFP)

http://www.fxtrainingzone.com :: EUR/USD long trade based on a close above previous resistance. Entry made on pull back before NFP. Reasons for trade:

- Strong Bullish engulfing candle close on the 4H, yesterday after ECB rate decision. This candle closed aggressively above some serious resistance.
- Price pulled back and found support off the 8 EMA.
- Daily chart shows price action bottomed out at 1.3243 (previous resistance which has now turned to support)
- Price has a high probability of breaking out of the daily resistance like show on the attached image.

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• payrolls

[sl0wik78]

Good to see expert in action.

All the best!

[pwon99]

thanks, i learnt a lot