Price broke the 1.19250 area on Tuesday and is now back for a retest from below. Should the level prove to be resistance and show signs of weakness this could be another opportunity to hop onto the trend and ride the momentum. If New York fails to drive the movement today, tomorrow is filled with Fundamentals including NFP which could be the catalyst to close the week with what could be an even weaker Pound.
@Leo-btm, Yeah lol. GDP news came out strong this morning and it pumped up. Lets see what NFP has in store...
ibrar550
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doubt it, the data from US claims was pretty bad
Swiing
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@ibrar550, You recon? I think tomorrow's employment data will carry more weight on how the week closes.
ibrar550
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@Swiing o definitely tomorrows is worth more but I'm just talking about today. also have a feeling NFP will come in 300k mark so higher than forecast
ibrar550
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@Swiing if you look at price just for today especially after the claims data it became very bullish....with nfp it can go either way aloooooot more aggressively
Swiing
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@ibrar550, I went short on Tuesday and still holding. I also just added another position today. I don't trade NFP so will be looking to protect my positions and resume next week. The stock market has plummeted again today and the USD has yet to move so I'm guessing too this will be tomorrow.