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October – A Fury Of Data & Forex Volatility

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We are inching nearer to the big Non-Farm Payroll announcement in the U.S. on Friday October 7th. The new month has arrived with a fury of data and lots of market movement on the GBP and Yen pairs.

The GBPUSD fall from the 2016 high 1.3444 remains active as a daily open and lower close below 1.2865 will support further price decline to 1.2643, 1.2775 and 1.2500 in the days ahead.

The EURUSD remains in a multi month consolidation phase as a weekly open and higher close above 1.1341 will support further rise to 1.1449, 1.1660

As we go into the NFP release on Friday, we expect a wave of volatility and possible Forex trading opportunities.

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  • Posted by Teri Patterson
  • On October 5, 2016
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