U.S. equities attempted a rally today pushed by a decent jobs report. Gold prices fell dramatically but retraced to close down only slightly. As we go into the weekend for clarity of the Greek debt agreement. The next big move and possibly multiple month trend could be conditional on the details of the debt deal. Tomorrow, U.S. equity markets are closed but the forex market remains open.
The EUR/USD bounced slightly today and we are still watching for a move higher to short this pair near 1.12 or 1.13. We do want to see price action during the weekend to see volatility shake out before we short this pair.
The GBP/USD moved down very slightly and we are still looking for a short near 1.57 or 1.59. After watching price action on Friday and on Sunday’s open, we will look to set our sell limit on the pair.
The CHF/JPY rallied slightly today and we are looking for price to roll over with the higher volatility going into the weekend where we will tighten our stop.