NFP Report is one of the most important market moving reports. NFP stands for Non-Farm Payrolls. This report is released on every first Friday of each month at exactly 8:30 EST. We love to trade this report. This report moves all those pairs that have USD on any side. Now this post specifically explains a NZDUSD trading strategy. Take a look at the following chart!
DO you see something peculiar on this M30 chart. This is a screenshot of NZDUSD 30 minutes chart on the day of NFP Report release. The last very big bullish candle has been formed on the NFP Report release. Look at the above screenshot and you will find price bouncing up very accurarately from one horizontal yellow line which is 0.74210. You can see price bouncing from this horizontal line very accurately 4 times. 3 times before the NFP Report release and at precisely the time of NFP Report release. So if you had placed a pending buy order at 0.74240 with a stop loss at 0.74140, your risk would have been only 10 pips and you could have easily made 60 pips giving you an excellent reward to risk ratio of 6:1.
Now this is another NZDUSD trading strategy that you can practice on your demo account. This NZDUSD trading strategy has also been developed for trading NFP Report. However this NZDUSD trading strategy uses M15 timeframe for its execution.