Friday 6th March 2009 is an all important day for the US economic data release. today we will see the release of the NFP data which will be out at 8:45PM (+8 GMT). I'm still reluctant to take any trades today as normally today we will see big swings or consolidation before the data release. The asian session started off with a slow start. but by midday, market started to move upwards aggressively to retest the upper trendline in the H1 chart (1st chart) the higher low created might also make a hint on the upwards surge. the move was strong and the bulls managed to push price way above the upper TL. For now further upper TL still holds and the EU is still below the 1.2700 psychological area. in the daily chart we still can see that the EU is still in a downtrend channel.
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