reza-v CURRENCY TRADER, FOREX EDUCATION AND FOREX TRAINING SPECIALIST AND SUCCESS COACH TO TRADERS. He teaches Online Forex Currency Trading. He specializes in foreign currency trading strategy, trading psychology for personal self-mastery skills and money management techniques for wealth building in the Forex market. This is his blog. Follow his journey through the currency market.
Friday, March 14, 2008
March Payroll Follow-Up
Chart courtesy of eSignal
Well, the Non-Farm Payroll numbers blew away consensus. February's numbers were even revised upward, but because of the light volume on Friday explosive volatility was concentrated just to the majors. The EUR/USD has returned a strong support area at 1.3370, which is the Dec 4 swing high and 38.2% retracement level of the Mar 4 to Apr 5 rally.
JPY/USD should offer some interesting action. Currently the pair at the 61.8% retracement level of the Jan 29 - Mar 5 move. Any break fo this level should see the pair revisit the 120.00 level soon.
Happy Trading!!
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