Nonfarm payrolls data failed
to create significant price action moves in most currency pairs. In fact,
Friday was very calm in Forex market. Only scalpers could have benefited from
the event. Other than that it was a pretty boring day. It is quite unusual for
Fridays that often have huge market swings in most currency pairs and sharp
reversals after weekly moves.
However, it does not mean
the piece of news will not have impact at all. Reactions often come after a day
or in the beginning of a new week. The data that came out was slightly below
market expectations, but it was still quite good. So, we have yet to see how
big market dogs decide to push various currency pairs on Monday.
I keep to my position that
Euro will collapse soon and I think the move down has already started. Important
support level has been broken. We do need some announcement from ECB or FED for
the fall to accelerate and I guess it should come this month. It could be done
during the announcement when interest rates are announced. I think it will be
ECB head who will make a bearish stance against Euro.
Let us wait and see what
happens this week. See you soon.
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