Daily FX Profit Signal April 2nd, 2010

With Europe done for the week, we’re looking for an exciting NY trading session as the release of Non-Farm Payrolls will be our last chance to see volatility. The last few days of trading have been filled with risk appetite and we’ve seen the dollar continue giving up ground to the majors. The biggest news release of the last 24 hours was the SNB intervention that gave the euro a run of nearly 350 pips in less than 10 minutes. We were expecting such a move, but weren’t able to catch it ourselves. We still think the CHF
will continue strengthening despite SNB’s efforts, just as it had in the past year. Our goal in the next 24 hours is to find an opportunity for a trade during the NFP release.

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