EURO and GBP made the expected rise yesterday.
They are expected to make firming up moves with swings during Japanese session and swing and slide during early European session - a good buy time,from mid European session they are expected to firm up.After brief swings during NFP data release time they are expected to firm up towards close of European session.Then a gap time dip before start of US session and a quick rise during US session are the expected market moves for week end.
Now traders might get the feel to compare markets to get the clues for the moves.But the players are expected to exit their positions in commodity markets and invest in stock and currency markets.More rise is expected in stocks and currency markets in the days to come.
it is better to trade along with the players and that may appear that we are trading against the trend.but the players quickly rise and book profits in their buy positions and drop the market to buy again and later rise more to trap the short sellers.they trap either way the traders and earn.the data release is used as a trigger time for the market and they need not use the same explanation for the data every time.They give different interpretations and bring in suroprises every time.the surprise can trigger emotions of the traders.So avoid becoming emotional during trading.
Regards
Dr.Sivaraman