Last session was certainly a ‘wild ride’ as we entered into the London trading session. The rollercoaster ride continued well into the New York session. This extremely high level of volatility was created from a string of high impact news releases like EUR interest rate chances and news from the Fed.
The volatility caused massive spikes up and down across most of the markets, creating an untradeable environment. The fun isn’t over yet folk’s, tonight we have the NFP data release which as we all know generally causes a rufface across the board.
The volatility from the last session has ruined any sensible trading opportunities and the NFP release tonight will most likely only extend on the recent mess. It’s best to stay out of the markets, let price stabilize again and wait until next week for some low risk price action signals to develop.