Friday, January 09, 2009

Today's Report

* In a typical somber and mute pre-NFP trading session, the US dollar traded mostly lower against major currencies. I don't have any verdict whatsoever regarding the upcoming NFP, but if the number from the ADP report is taken into consideration, there will be a blood bath on the floor tonight.

* EUR/USD's recovery is limited by 4 hours 55 EMA and retreats mildly. At this moment, intraday bias remains on the upside as long as 1.3528 minor support holds. Focus remains on the trend line resistance (now at 1.3835). fall from 1.4719 should still be in progress as long as this resistance holds. (ActionForex)

* The big daddy itself, Non-Farm Payroll is to be released at 9.30 pm

* Live Trading: Are you kidding? Sorry, I don't trade pre-NFP.

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