FOREX - upcoming events with potential higher impact on currencies for... hell no! It's weekend!

Since there is nothing special to announce for Saturday and Sunday, let's have a look at EURUSD on NFP Friday!

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Do You see those enormous spikes? Well, this was at about 14:40 UTC+1, I told You it's a predictable madness.

How to handle such a situation? It's not possible to "jump in" simply and try to get out in the right time. Your only chance is to use prepared orders at the levels, which are marked red and blue in the chart. This would be a buy order with take profit beneath the resistance (red), and a sell a little below the resistance, with take profit near support (blue). If You want to be more safe, You could use a _trailing stop, _type of auto-following stop loss, but with a rather large distance to the price.

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If You have any question about terms that I use, feel free to ask!

Have a nice weekend!