Is there a way to predict nfp direction?

@maasai_princess - 2 months ago - Fundamental Analysis

So, I traded NFP today (EUR/USD pair) and i got the direction wrong, so I made a loss. This makes me ask the question: is there a way to predict which direction the market will go after nfp release or is it just gambling?

@martini_schwarzwald - 2 months ago

I just look for similar U.S. jobs reports that have some kind of correlation to the NFP jobs report. For example, the ADP jobs report tells us how many new jobs were created in the U.S. non-farm private sector so it could give you a clue as to the direction the NFP report could take.

Although the U.S. ADP jobs report only takes the non-farm private sector into its calculation; you could use it as a guiding light.

@arthur_wildberry - 2 months ago

You can't predict it with 100% certainty but keeping up with united states economic news and reading newsletters from Bloomberg, Goldman Sacchs etc. can give you an idea of what nfp will look like