Sell the News?

Had a very good follow through on yesterday’s play. I’m pleased this morning and looking for other entries. My question surrounds the impact of a positive jobs number today. If it’s in-line with yesterday’s ADP number (and there’s a good chance it is), I’d expect some selling pressure. On the other hand, I’ve never seen such a run-up. There’s lots of optimism, or lots and lots of short covering.

Sticking to the Euro for a moment, this is today’s chart with yesterday’s ranges.

EUR USD Daily with yesterdays rangeAt the moment I’d look for a bounce and put in place some tight stops. My morning target is 1,4325. If and when… I’ll reconsider.

Good trading, off for lunch 🙂