A bit of consolidation yesterday as markets are gearing up for economic data releases, specifically this Fridays NFP release. The commodity currencies, specifically the Aussie, have done extremely well and is now testing the upper limits; with Retail Sales coming out within just one hour, well be looking for either a continuation higher above .92 or a failure and a move lower behind worse than expected numbers. We should continue to see extreme volatility and are focused on the longer term picture rather than the short term; its becoming very dangerous and we are opting out of using stops that are further away than we prefer, hence the lack of direction and the frequency of trades.
Dont forget, we will be hosting a News! Trading session today, Wednesday, March 31st, 0130 GMT/830pm EST. Premium members may access the direct link in the Members Downloads section. The room will be open 15 minutes prior to trading.
If youd like a more detailed analysis with potential trade opportunities during our live trading session, please join us in the members area.