Last Friday, Nonfarm Payroll was better than expected, leaving the jobless rate at 9.7 per cent, spurring demand for riskier assets and higher-yielding currencies. Generally all major pairs had pushed up and closed at high point.

This morning market is traded in narrow range. Beware of false breakout.
Recommend strategy for this morning: "Sell High"+ "Buy Low" by using the least stop loss to earn the most target profit.

GBPUSD - Strategy for Morning
Breakout for Long - EP{1.5248}, SL {1.5221}, TP- 1.5343.
Breakout for Short - EP {1.5141}, SL {1.5179}, TP – 1.50388

EURUSD - Strategy for Morning
Breakout for Long - EP{1.3778}, SL {1.3751}, TP- 1.3893.
Breakout for Short - EP {1.3651}, SL {1.3689}, TP- 1.3548

After 17:30 {GMT +8:00 Singapore}, if the market trends up but failed to break
GBPUSD{1．5008}, EURUSD{1．3578}
Waiting for the direction to reverse and trends down before enter a Short trade, SL is 28 pips away from EP.

After 17:30, the market trends down but failed to break Breakout for Short or false breakout
Waiting for the direction to reverse and trends up before enter a [color=Green]Long[/color] trade, SL is 28 pips away from EP.

[u]Aggresive trader [/u]
GBPUSD Sell - EP “1.5248”,
EURUSD Sell - EP “1.3778”,
When the market is no longer going upward instead it reversed downward, now it is time to enterShort trade, SL is 38 pips away from EP.

Buy Low trader pays attention to the major line of
GBPUSD {1.5100 - 1.5050}, EURUSD {1.3600 – 1.3550}.
If the price is unable to breakout, enter Long trade with SL of 10-20, take profit after price retraced.


Take Note:
1. Breakout for Short and Long: To prevent false breakout, the price must breakout at least 10~15 pips and retrace back the EP before we can buy or sell.
2. If hits SL, trader should wait for retrace of 10-20 pips {to play safe, low risk trader waits for retrace and break SL price again} to enter opposite trade – sell
3. Aggressive trader: As long the condition for entry is fulfilled, EP can be plus or minus 20 pips
4. The preference to enter market: “Aggressive trader” strategy will be the first choice, breakout for Long/Short will be second choice.