#SaxoStrats: Options for EURUSD ahead of US NFPs

Spot trading EURUSD is very difficult after the recent hard squeeze on short positions and ahead of the US non-farm payroll data, says Saxo Bank’s John Hardy. It is equally challenging to choose stop levels when volatility is high. That high volatility also makes options rather expensive, but if US data surprises to the upside on Friday’s US employment report, EURUSD could suddenly find itself well back in the old range and pushing toward the range lows below in a compressed time frame. If not,
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