fuse-forex
Short

Jobless claims tomorrow is the key factor now...

FX:USDCHF   U.S. Dollar/Swiss Franc
41 0 7
Risk Disclaimer: The content published by this account is for demonstration purposes only and should never be considered financial advice.

The USD has been sold across the board after discussions surrounding interest rates yesterday. This has created good trading conditions in all pairs against the dollar. Expect most of the trading conditions to remain range bound up until the jobs report tomorrow, and expect rallies to be sold into the report. More than likely, the report will result in some quick moves back and forth that range traders will likely be advantageous with. It's hard to say right now if the data will matter in disrupting the recent dollar sell-off. However, we would tell traders that if they are looking for holding periods greater than a day, than positioning now, before the report, for such trades would be a bad idea. The train left the station for those trades over the last two sessions, and it would be prudent to wait until the data points ahead. That would be for dollar short themes only, for those considering dollar longs... these levels are interesting, however those would be contrarian plays based on the recent price action             and fundamental data. The overall good news is that the market is volatile here.
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