Trading Signals for EUR/USD on Friday, Aug 2 2013

Today is the first Friday of this month of August 2, 2013. So, as you would know it is a big day. Quite eventful it is; and why would it not be. It is on this day that the data pertaining to the Non-farm employment change is released.

It is the news that every serious trader waits for eagerly. Within seconds of its announcement, the market quavers haphazardly. It is that time of the day when a lot of traders all over the globe either make heavy losses or gain a handsome amount of pips in their currency trading accounts.

So, today when it released, a commotion in the market was but natural.

The respective data released at around 1 pm GMT today, and it triggered one of the set entry orders of mine at 1.3251, which I spoke of keeping as an entry order yesterday.

The data that came out today was less than what was expected. It therefore, pulled the market up and the pair recovered the losses which it had incurred during the last 2 days.

In the current scenario, the market is still in the gaining mode. As of the now, the highest that the market has made for the day is 1.3294.

So, in a scenario like now, there is nothing better than to wait for the market to show some stability, else the volatility in the market could work against a trader.

I have gained a handsome amount of pips since last week. Hence, I am not in any mood to destroy those.

Therefore, I am happy with my 2 open orders at 1.3251 and 1.3201 respectively.

Both are in losses right now. Just hoping that in the upcoming week, the losses in the currently opened orders will be erased and profits will take their place.

Just to mention, I also have an entry order, yet to be open at 1.3301.

I will update in the weekend, if in any case it gets triggered.

Till then, take care and enjoy the weekend.
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