Yesterday was all about reversals so what has today in store?
Stepping back and looking at the price action across a vast number of instruments yesterday there is one noticeable theme that really stands out. That is the reversals that took place from fresh intraday lows. We saw that in the EUR/USD and the EUR/GBP. We also saw it in the gold price and the oil price too. Then later we had an identical thing happen in the US stock markets, after the closing bell. So, what is in store today then? Well with the US monthly jobs report not expected to be very good later on, there maybe room for a surprise or two from that direction. Right now no one is particularly expecting a good report there. However, and has been well demonstrated yesterday, there is plenty of scope for yet more blind side moves to wrong foot the markets again today. Maybe that might come from the Crypto space today? Who knows, but keeping eyes open to the opportunity is what it is all about again today. Yesterday was a classic example of why keeping an eye on the news is one of the most important things anyone can do in this game
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