Quiet Session Ahead

We don’t expect much action today as financial markets in the US are closed for the Columbus Day holiday. That should be a relief to those traders who were caught in the buzzsaw on Friday. The US non-farm jobs report gave a boost to the US dollar with its better than expected numbers. But that was short lived as the EUR/USD currency pair sold off during the day to wipe out any gains. We are looking for the pair to consolidate during the New York session. Indicators are pointing south so we’ll look to go short on the next move.