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Forex: Short-Term EUR/USD, AUD/USD Swings Preferable To Trends on NFPs

Forex: Short-Term EUR/USD, AUD/USD Swings Preferable To Trends on NFPs

John Kicklighter, Chief Strategist

An abrupt reversal from EURUSD had many speculators that have been watching and waiting for a broader risk reversal salivating this past session. However, this sharp move was isolated from the general current of sentiment - and that separation actually made for a far better trade. Short-term corrections for over-extended markets and pairs better fits the market conditions we are currently faced with rather than the long-term trend development many are still holding out for. This is something to remember as we approach one of the market's favorite catalysts: US nonfarm payrolls (NFPs). It today's video, we discuss the impact the employment report will have as well the trades that fit both market conditions and the upcoming event risk.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.