Good morning guys and gals.
time for some chinos musings.
we have the US payroll data today i believe at 1.30 (or 1.28 lol)
this usually causes a one-way spike in the FX markets, ie no dummies, so just before the data comes out, please tighten your stops, as its gonna fly one way or another.
personally, i believe that the data is going to surprise to the upside, and this will take Betty and EuroDoolally south with great force. who knows, we could see 1.1900 today? (not impossible you know)
there appears to be loads of overhead resistance on the charts at various levels (i will post a chart in a bit)
so im going to stay on the short side, and unless the data spikes us up 100+points, whereupon i would look to go long on pullbacks, i am going to remain in the bears camp.
just a few musings, but dont trade off them please.
FC