Full moon effect.....

TGIF folks!!

For the past twenty over years, I often have people laughing at me when I talked about the Full Moon effect...... Somehow very coincidentally, there will be some important economic data or news release during that few days window. Here's a typical example (milder version) in the price action during European/NY session last night.

Chart 1 - Full Moon Effect

With the Japanese still out today, we should expect another lackluster session in Asia or even Europe as market is bracing for tonight US employment numbers.
No change in my 48hrs assessment from yesterday's "Revisiting Previous Bear Targets....", just need to fine tune the intraday levels.
1.3110/30 to hold on first test (1.3040/60 news induced or second test) and 1.3240/60 to cap.

All the best and have a great weekend!

“If you know the enemy (market) and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy (market), for every victory gained you will also suffer a defeat. If you know neither the enemy (market) nor yourself, you will succumb in every battle” 
― Sun Tzu, The Art of War