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,