I’m having a hard time processing today’s PA in regards to USD. Both trade balance and unemployment claims came in worse than forecasted this morning, so I exited a long position I had held overnight on USD/CHF. Much to my surprise the pair shot upwards over the following couple hours and even broke a major resistance level on the 4hr.
To go along with the bad US news was positive trade balance for CAD, which seemed a great opportunity to short USD/CAD. But only a slight move down, then back up to last resistance level.
I’m brand new to this, so it comes as a bit of a shock. How often does PA ignore fundamentals like this?