What a difference a report makes! Yesterday the big speculators in the forex market probably realized that the good news for the US economy should benefit the US Dollar (isn’t it obvious?) and the bad news should lead to a sell off. For almost 3 years I was reading and listening about the risk appetite and such bulls**t. You should be absolutely stupid or greedy to talk about risk appetite and carry trades when almost all the interest rates are near 0. Whatever I hope that we are near the and of the “moron thy friend” forex and the market will be more normal and predictable. If I am right in my analysis of the yesterday events after the US NFP report, the USD should strengthen from here. Next supports are 1.4070 and 1.4010/00. Resistance is 1.4330 and 1.4450.
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