As the Italian referendum will take place over the weekend and the NFP announcement is just in front of us the volatility will increase heavily. For those who do not have any position in the market it seems to be wise to stay flat until Monday. Nevertheless, as scalpers and high risk approach traders can take advantage from the volatility why not to share our point of view.
The GBPUSD pair for instance looks to be ready to go to 1.28 level. As long as the price does not dive below 1.2520 level we support the up trend movement. Even if it does we will be still looking for the next entry level to go long.
EURUSD, on another hand, is in a down trend and consolidates at the moment. The 1.04 level is the target as long as the pair is not flying above 1.07. If it does we will reassess the new short entry level.
For swing and positioning traders it looks as staying on a side until Monday is the best strategy for now.
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