market awaits NFP data release.before that when all currencies were holding only EURO made the volatile moves of 100 pips yesterday during US session.The bullish feel is being created by tha move in the market.Now every dip traders taken short are willing to cover their shorts and turn long.
expected market moves for today:
During Japanese session swing and firm up moves may be seen.
Quick drop may be seen during early European session followed by some gain .After NFP data release by 12:30 GMT there might be some volatile moves till close of European session.
During US session initially some rise followed by holing high may be seen.from mid US session profit booking may happen for EURO and GBP to slide for week end.
Since the interest rate decisions of BOE and ECB are to be announced on 09th june, next week,the market is expected to make wide range swings till end of next week.
Watching the moves I will try to give market reading updates during the day.
If you are holding unfavorable positions,please use hedging/stop to limit the risk and try to do eitherway trades during such volatile moves.Risk limitation is very important during trading.What ever be the forecast- it can become right or wrong,the positions are to be managed with care to earn from the market.