Regarding the recent nonfarm payrolls, let me briefly share some thoughts for reference only.
The market is focused on the data release at 20:30. Based on the current price action, tonight is very likely to see a pattern of pumping up to trap longs before selling off.
If the data does not come in much worse than expected, the market may briefly spike higher, creating the illusion that the bad news is already priced in and attracting momentum traders to jump in.
But the real trend will only become clear after the U.S. stock market opens. The short-term surge may just be a setup for distribution by the main players.
Tonight, avoid betting on a one-way move. The market will most likely whipsaw repeatedly, taking out both bulls and bears in turns.
It is recommended to trade cautiously. Rather than entering blindly during violent fluctuations, wait for the U.S. stock market open to confirm the true direction and prioritize protecting your capital.