Strong U.S. Dollar - Talk Of The Town
Last week, a key theme swept across the FX markets for all to see, US Dollar strength! The US economy had a very positive non-farm payroll figure announced on Friday of last week which was bullish for the USD. In the largest increase of the year, the US economy saw 271,000 jobs added in October which lowered the US unemployment rate to 5.00%.
A strong US Dollar means our immediate focus shifts to FX pairs such as AUDUSD, EURUSD, GBPUSD, USDCAD, USDCHF, USDJPY and USDSGD. Now that we have these pairs with some clear momentum in a trending market, it's worth stalking these charts for opportunities to come this week. The EURUSD daily chart is shown below and as you can see it's in a cracking daily downtrend.
Continue reading Craig's full article as he drills down timeframes in EURUSD looking for current trading opportunities by clicking on the following link: Click for Craig's full article here.
The TWP Team
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