Close Open Orders: 2007-12-05 13:20
No trade triggered. Close Open orders
We are fast approaching this month’s US Jobs data and the Fed rate decision. With the surprise in ADP, we may possibly see strong US Jobs data this Friday. This could be the determining factor as to how much the FOMC will cut rates, if they do.
Until then, stay tuned for new trade ideas!
Trade Idea: 2007-12-04 23:20
As we can see on the 4hr chart, the pair is in a short term downtrend and it looks like the correction rally is running out of steam. Stochastics are showing the pair is overbought as well.
The big event for tomorrow is the ADP Nonfarm Payroll data. This report may give us a pretty good clue to the government data set to be released on Friday.
So, we will short this pair if it moves up a bit more further. Here we go:
Stay tuned for updates and trade adjustments. Good luck and good trading!