Daily FX Wrap Up

After almost two months of next to non-existent volatility in the majors, the Dollar took a leap on an otherwise disappointing employment report. With many of the majors already pushing-up against major levels in their respective charts, it seemed the infusion of any sort of volatility was needed to fuel Dollar favorable runs.

EUR / USD early morning trading ranges were trapped in a 30 point range, hovering around the 1.2685 level. When the highly anticipated payroll report hit, an initial spike of 50 pips made the day’s high at 1.2718 before the pair took a huge plunge to 1.2572 and then finished out the day in at 1.2594. On a positive note, this may be the start of a rise in volatility, and hopefully a better trending market going forth.