I am a news trader....
So 5:30 LA time NFP gets released, news is against USD, EUR/USD shoots up as expected.
News is against USD. Therefore NZD/USD should shoot up right? But, NZD/USD goes down (see attachment).
Ok so its easy to say EUR/NZD went up so NZD/USD had to compensate to go down. But how does one know that the NZD/USD would go down???
So 5:30 LA time NFP gets released, news is against USD, EUR/USD shoots up as expected.
News is against USD. Therefore NZD/USD should shoot up right? But, NZD/USD goes down (see attachment).
Ok so its easy to say EUR/NZD went up so NZD/USD had to compensate to go down. But how does one know that the NZD/USD would go down???