Today is the Non Farm Payrolls Day. With such an important anouncement you better think twice of any trades.
The Non Farm Payroll Indicator is realeasd every first Friday of the month and shows the change in the number of employed people during the previous month, excluding the farming industry in the USA. This is one of the indicators that can have the most impact in the market. Therefore is best not to make any decissions simply on technical analysis.
Reviewing the markets using the Trend/Wave/Extreme indicator.
- USD is overbought is most cases and uptrending
- EUR is getting slandered and continues to drop reaching oversold conditions
- AUD and CAD seem to have some strength against the all mighty US Dollar
This is a very difficult picture today and with the Non-Farm payroll to be released today is best to stay of the market.
Read about the Trend/Wave/Extreme system here