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The pair has reached a multi-month high today, clocking 1.1440 level right before the release of US employment data, and as expected it started to retreat from this level as it did plenty of times in the past months. It remains to be seen if that's just a temporary stop on its way to more highs or whether we are going to see a more substantial pullback.
Today NFP has been a non-event in a similar fashion we witnessed last few releases of employment data. No surprises except for a slight uptick in average hourly earnings. The market is still very much focused on Yellen's latest comments that have weakened dollar will keep any rallies limited for the time beings.
I did think that with the market recent repositioning(less dollar longs and increased euro longs) that there was a chance of EUR/USD to drop below 1.1300 on triggering stop losses below 1.1350, but that didn't happen so far.
I did trade today with some moderate proffits which is always a nice start to the new Trader Contest.
Today NFP has been a non-event in a similar fashion we witnessed last few releases of employment data. No surprises except for a slight uptick in average hourly earnings. The market is still very much focused on Yellen's latest comments that have weakened dollar will keep any rallies limited for the time beings.
I did think that with the market recent repositioning(less dollar longs and increased euro longs) that there was a chance of EUR/USD to drop below 1.1300 on triggering stop losses below 1.1350, but that didn't happen so far.
I did trade today with some moderate proffits which is always a nice start to the new Trader Contest.
