Forex: Short-Term EUR/USD, AUD/USD Swings Preferable To Trends on NFPs
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.
New to FX? Watch this Video (Initial login required)
Sign up for John’s email distribution list, here.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.