Good Day everyone,

The bid day is finally here an ECB Press Conference and U.S. Non Farm Payrolls. The North American session closes at 1PM today so it is a very quick "wham -bam" of a day. I am also conscious that many traders are already away for the 4th July vacation. This means lower liquidity and potential for wild moves. I am at this stage 50-50 whether I trade or not.

Last evening (for me) I traded (scalped), the AUD/USD short and added to my EUR/AUD long and also added to my AUD/USD short, it was too fast and furious to tweet at the same time, but I made my weeks goals in about 15 minutes. Earlier I forgot to wake up on-time for SEK news and missed the Riksbank cut rates by 0.50%. (Here is my best ever wooda...coulda...shoulda...had I left my trades in the USDSEK, EURSEK and USDNOK  in play from last week over 4,000 pips would have been in the total move had I closed them after the news had settled).  The USD/SEK moved by a staggering 2% on the rate cut over 1,400 pips  on the news alone.

Back to today; how much will Draghi attempt verbal intervention to talk down the EUR fair value? Will NFP beat the circa 215,000 new jobs gaol? Will the Unemployment Rate rise and will the hourly rate go down?....Lots of questions. It is difficult to trade these news events combined, so if you are going to trade I would highly recommend waiting a little to review after the knee jerk reactions.

The more I write and think about today the more the likelihood that I will not trade.

I do have this feeling that the ECB news may be quite forward today, Draghi will have to try verbal intervention as his policies from last month have NOT done a thing. He will have to bring forward his timetable for other measures. But as I have said so many times, he needs to act rather than talk...talk is cheap.

<span style="text-decoration: underline;">TRADES ON MY RADAR:</span>

I am looking at the GBP and CAD related trades, especially the following and if I do tweet trades or set-ups they will probably be based around the following pairs: -

GBP/USD
GBP/CHF
EUR/GBP
USD/CAD
EUR/CAD
GBP/CAD
USD/SEK
USD/NOK
EUR/SEK

As stated, I may just watch today.

<span style="text-decoration: underline;">LIVE TRADES STILL IN PLAY:</span>

NZD/USD - Short
GBP/NZD - Long
AUD/NZD - Long
AUD/USD - Short

Good luck today,

Scott