4th April is nonfarm payroll day, forecasters say that it will be more cuts of jobs and this means it will weaken the US Dollar.
However, we will choose not to trade the forex while this Big Day comes in. The reasons are:
1. They can not be predicted 100% (Non of the market can be predicted).
2. When the report comes out, it will spike more than 70pips in just seconds.
As a trader, your smartest choice for the news time is to get out of trading.
Remember that market is always there. So, you don’t lose when you don’t trade. Trading forex need a lot of patience. Get in to trade only when there is no Big News like this.
We will see what is the real report comes out later. This might be a down for USD as I said that this might be the time of retrace after few hundred pips up for USD.
Happy Forex Trading! 