Day 350: May NFP

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The EUR/USD had a confusing mix of movement today caused by the ECB. Although Draghi wasn’t necessarily dovish or hawkish, he still stands on his words that they are ready to act if things go bad. He states that rates will stay at current levels or even head lower. The EUR/USD had an initial spike up, followed by a strong fall.

I was able to catch a nice short EUR/USD and long USD/JPY trade. Things are looking pretty good and I’m looking to hold the positions during NFP. I believe the dollar will continue to gain strength and further punish the euro. The ECB didn’t deliver any words of encouragement to save the euro and thus I believe there’s more room to fall.

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