The big number from the October jobs report could be bad news for the market

WHAT IS THE USD SAYING?

USD took a good correction and profit taking – where the USD will go tonight after the NFP – the market is aware that the rising of the interest rate won’t stop and that the easy money will come to a stop. We stay at the sideline for now.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES

  1. 3.00pm – 5.00pm – Italy, Germany, Spain, France and EURO will release their PMI data – we are expecting little or no change – not much movement expected.
  2. 5.30pm – GBP will go to action – construction PMI – expected volatility.
  3. 8.30pm – Canada will release their Employment and Trade Balance – data expected to be good.
  4. 8.30pm – US will release their NFP data and is expected better then last month – good volatility is expected.

USD is at critical support and if it breaks the support tonight – USD is in for a good further correction to 95 or else the rally will continue. Always keep money management as your number 1 priority.

High Risk Investment Warning:

Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary.

1 Comment
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