How was your mambo jumbo NFP ride? It was almost hundred pips of whipsaw.
.The non farm payroll in US came out slightly worst than expected and with that, it pushes the unemployment rate in the US to 10.2%
As we can see. the S&P 500 is currently in a bullish momentum
Traders have apparently ignored the fact that unemployment is 10.2%
Gold has risen, currently around $1095.
Oil has dropped to almost $75. This may suggest further USD losses.
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As we draw to a close of the trading week, hopefully you had a green week.
German ZEW Economic Sentiment is up next week and any worst than expected release may bring back risk aversion.
Ben O Trich Indicator says 2 VS 2 and hence we may consolidate. In fact, looking at the chart, this was the main action yesterday too.
The currency pair is now consolidating in the EUR/USD area of 1.4843+ to 1.48653+
Any breakup by the currency pair will bring 1.4910 to play.
Bears will need to contest with major line 1.4800 if they want to takeover the price action.
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It is almost 3am now and i am very tired!
But finally, the weekend is here. What are your plans for it?
Trade safe.
*My buddy Casey loves to help newbies in forex trading too so visit him today!
