Trading Ahead of Tomorrow’s NFP Report

Well last night certainly was a blast. In a major move of intervention, the EUR/USD skyrocketed some 300 pips to fire across the 2500 line like it wasn’t even there. Might we see more upside?

My gut reaction said no, which is why I entered a short once momentum stopped. The EUR/USD has just dipped under 1.2500 as of this writing and London is due to open in about an hour.

Trading When News Hits the Press

Last night (my time) I was minding my own business shorting the GBP/USD. I shorted it above the 1.5050 level because my technical analysis showed that it should come down below 1.5. What happened next was a reminder of the power of news.