EURUSD before NFP!
EURUSD before NFP!
Just like every first Friday of the month- today we expect the NFP report.
This is a type of event that causes big fluctuations and it's capable of reversing trends.
That's what we expect to see today- a trend reversal or a trend confirmation.
We currently have a nice uptrend on EURUSD which provided us with some good buying opportunities.
However, price is currently at an important resistance and based on the news later on today we will see if there will be a rejection of this level or a continuation of the trend.
If you're not trying to be aggressive here, then you should be looking for trades after the news and that means to do nothing before that!
Then if you see a breakout (close above) of the 1,1910 level you could be looking for trend continuation trades and if there is a break below previous lows instead, then you will be looking for trend reversal opportunities.
If you're willing to be a bit more risky you can sell now as long as you have your SL just above 1,1910.
It's very likely to see price in both directions in the first few minutes, leaving wick on both sides of price, so if you will be doing this then make sure to use a proper lot size!
Decide which option is best for you. Good luck!
Just like every first Friday of the month- today we expect the NFP report.
This is a type of event that causes big fluctuations and it's capable of reversing trends.
That's what we expect to see today- a trend reversal or a trend confirmation.
We currently have a nice uptrend on EURUSD which provided us with some good buying opportunities.
However, price is currently at an important resistance and based on the news later on today we will see if there will be a rejection of this level or a continuation of the trend.
If you're not trying to be aggressive here, then you should be looking for trades after the news and that means to do nothing before that!
Then if you see a breakout (close above) of the 1,1910 level you could be looking for trend continuation trades and if there is a break below previous lows instead, then you will be looking for trend reversal opportunities.
If you're willing to be a bit more risky you can sell now as long as you have your SL just above 1,1910.
It's very likely to see price in both directions in the first few minutes, leaving wick on both sides of price, so if you will be doing this then make sure to use a proper lot size!
Decide which option is best for you. Good luck!
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❓ If you got questions: t.me/Semkov
💰 PAID SIGNALS AND ANALYSIS: t.me/Semkov
💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
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