Last week, NFP surprised the market by having higher-than-forecast results. NFP turned out to be 199K instead of the forecast of 180K. The US unemployment rate also reduced to 3.7%, better than the consensus of 3.9%. These number has proved that the US job market is still hot.
This week, we will have the most eventful week in December.
For EURUSD, the key announcements are as follows.
- 12 Dec (Tue) – US CPI
- 13 Dec (Wed) – US PPI
- 14 Dec (Thu) – FOMC Interest Rate Decision, ECB Interest Rate Decision
Both FOMC and ECB are expected to remain the same interest rate without any hike of 5.5% and 4.5%. Any surprise from these 4 events will make the EURUSD very strong in either way.
Recommendation
With this outlook, to be on the safe side, for EURUSD, we strongly recommend all Ophiuchus and Limitless EA users to schedule to stop trading for this period starting from 11 Dec till 15 Dec. You can use the stop trading period feature in the EA to do that. You can also decide to start the stop trading for a longer period to wait for the dust to settle. (e.g., stop trading from 11 Dec and only start trading after 17 Dec) if you would like.
We understand that you might feel that it is more frequent to receive market updates recently and more intervention is required to control the EA. We are working on a new feature to manage the stop trading period for EA automatically based on upcoming announcements. Based on our current estimate, the new feature will probably be released at either end of the year or early next year. Please stay tuned for this new feature.
Just a sneak peek for this new feature, in the upcoming release, the Ophiuchus EA will be able to get upcoming news announcements and you will be able to set to stop trading automatically x hours before the news announcements.
Disclaimer – Please note that Limitless Trading is not liable for our recommendation and is not responsible for any loss or profit caused by this recommendation. You should assess your circumstances and perform your research to make decisions for your trading.
