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Originally Posted by Andy K
Bit late for that !
I suppose TA works because this type of market psychology recurs time and again - everyone is buying this pair thinking its invincible - sure, thats where trends come from, but there will inevitably be a hiccup, or worse.
Good trades all.
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True but as we wrote today, "While the latest Euro-zone data confirms the expansionary scenario for that region, the forecast for US economy is decidedly more murky. We have long argued that employment remains the absolute key to any dollar bullish argument going forward and to that end the weekly jobless claims numbers have taken on a much greater significance for the market this month as they have disconcertingly climbed higher from the 320K level to the 340K level in the past two releases. Therefore, today’s print may generate more volatility in the pair than usual if it once again produces a reading north of 340K. On the other hand, a drop back into the 310-320K would allay the concerns of a slowdown and the greenback may be able to extend its snapback rally further. "
So let see if US unemployment data has any resonance in the market today
