JOLTs Data awaited
The EURUSD marched higher and approached the 1.09000 level where orders were waiting (see Adam's post). Seller entered and the price has corrected lower. The JOLTs data is out at 10 AM and the market is trying to get its feet under it as stocks whip around.
I get the feeling that the flows will dominate (i.e. orders at 1.0900) with liquidity also causing the pair to hop around. So be aware. An option is to sit out and watch for a while. When markets are overly sensitive to things like commodities and they are whipping around, you can find yourself in trouble. You sometimes have to ask yourself, "Am I a Copper/S&P/Oil trader or currency trader?" If you are more a currency trader and those instruments are wagging the dog, it might make sense to sit things out and let the bar room fight go on without you.
