Jackson Hole Meeting ended last Saturday and more news will come out on coming Monday. US Fed Chairman Jerome Powell gave a speech last Friday and his tone is hawkish, which you should have already observed on last Friday’s EURUSD price action.
EURUSD broke below 1.08 last Friday and managed to close at 1.08 for the week.
This week, we have the US job data announcement and a few important announcements from Europe as follows.
- 30 Aug (Wed) – ADP Nonfarm Employment Change (Aug), GDP (QoQ)
- 31 Aug (Thu) – Euro CPI(YoY), US Core PCE Price Index
- 1 Sep (Fri) – Unemployment Rate, Nonfarm Payrolls (Aug).
As per our recent market update, Payroll and employment data become critical factors for the Fed to decide on its interest rate policy.
Recommendation
With this outlook, to be on the safe side, we strongly recommend all Ophiuchus and Limitless EA users to schedule to stop trading for this period starting from 29 Aug till 2 Sep. 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 29 Aug and only start trading after Tuesday) if you would like.
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 personal circumstances and perform your own research to make decisions for your trading.
