Every first Friday happens to be a special day for traders who shuffle between crypto trading and forex trading. And those who trade the forex patiently wait for this day. Many trade once a month specifically on this day with the news gotten from NFP released from the US.
Non Farm Payroll - NFP, used to be a scary thing in the past but not anymore. In fact, we used to feel the impact of NFP from the Thursday that preceded the Friday. Few hours to the release of the news, one would feel the market drag with low trade activities as a lot of traders would stay off trades. There were traders who lived for that Friday, and only traded once in a month because of the long candles and pips they would get from a few hours of trading because of the impact of the NFP news. This day, the market hardly moves that much.
How ready are you the market analyst because it's another day to move with the spikes and earn massively a good day to recover the losses you have had on your trades, a day to makeup for the bad trades and a day to build back your account.
Nothing guarantees that traders will make profit off the NFP except they actually know how to trade the news. Accounts get burnt on this day for those who don't know how to trade it. It's impact is usually marked as high.
