Good day forex traders.
We are at the end of the forex trading week and unless you have long term positions, you should have already an exit plan!
Looking at the EUR/USD chart above, we note that our bollinger bands remain effective. I have a reader writing to ” boast ” of a 45 pips gained for the week. I would say good for you ! Haha. I always feel happy when my readers benefit from our analysis. Having said so just remember that forex is unpredictable. Caution at all times!
A report suggested that an additional round of quantitative easing may be required before the thought of more US rate hikes can be entertained. There are concerns with regards to the widening trade deficit.
Today brings the US Non Farm Payroll. It is expected to be positive but hey ! You don’t see it until you do! Coupled with the end week, it is obvious that extreme caution is a must.