I've been trying to figure a way to trade using news story. I'll view what the economic news headlines read and I try to apply logic to my trade. For example this morning I saw that Nonfarm Employment Change was due to report at 8:30 a.m. EST. I noticed that the numbers were anticipated to be lower, which would have a negative effect on the nation's currency. With this in mind, I bought EURUSD at 1.3145 expecting this news to pull the Euro higher. This in fact did not occur. The dollar was stronger in trading today. What did I do wrong? Am I looking at the information the wrong way?
Any input would be greatly appreciated.
Any input would be greatly appreciated.