Euro run up

Hi all,

We have been away for the last couple of days so have not posted anything. Only just got back a little while ago and after having a quick glance at the Euro I see it has done a rally up. In all honesty I was not expecting this but having looked at the news I see we have Non Farm Payroll and Unemployment Rate out on Friday. For this reason I am staying out of the market until the news has come out and we get our direction again. Expect a lot of volatility around 1.30pm London time on Friday.

As it stands right now the trend is still down. However, the NFP may push the Dollar down causing the Euro to go up which in turn could change our trend so it is best to stand aside and watch until either our current direction is resumed or a new wave count is formed.

I still have a short position and short swing trade open but my stops will be lowered this evening to be on the safe side.

Good luck this week.