Quick market round up

Dear traders,

As we all witnessed the big news from the ECB yesterday as Mario Draghi (President of European Central Bank) decided to bring down the interest rates to (0.15) which dragged the EURUSD 100 pips down and straight back up with 150 pips. As I mentioned last week in my post, we will see volatility on the back of the decision but it is all only to take stops from both sides and because the decision was priced in already since we saw Euro declining for the last 3 weeks and as I said, it did stay at the same level from Wednesday (04/06) at 1.365.

As far as the non-farm payroll is concerned, the number was really good last month 288k but it is expected to go down to 218k. However, personally I believe it might be even lower and on the back of that we will see USD go down across the board with 50-100 pips and as usual will go back to the same price levels for all its crosses.

If you have any questions please email me on hussein.daami@savitrading.com
Have a good day trading and a nice weekend.