So, the first full-fledged trading week on world markets begins.
On Friday evening, the EURUSD rate showed a strong rebound from the 100 average on H4, this inspired some hope for traders trying to play the upward trend in the euro.
So far, the focus is on the growing tension between the US and Iran and of course, if both countries begin to exchange blows, all market plans will be radically changed. However, if Iran refuses a military strike against US troops in the region, then this topic will recede into the background.
In this case, the market will pay attention to reports on the US economy, particularly the US employment report for December which will be released on Wednesday from the ADP. Let me remind you that there was a strong dissonance in December as the report from ADP showed a sharp drop in new jobs with only 67K as opposing to the initial forecast of 160K new jobs. But, the strangest thing is the official nonfarm payroll report two days later back in December which showed a very high figure of 266K. This is according to a report from ADP, and the official nonfarm diverged to 200K. I honestly don't remember that.
It will be more interesting to look at the data of reports from ADP on Wednesday and from the non-farm on Friday.
EURUSD: The trend has not been canceled yet. We are holding purchases.
The cancellation of the signal will be upon the consolidation below 1.1120.
