Weaker NFP data with higher UNEMPLOYMENT CLAIMS (Bullish) Higher NFP data with Lower UNEMPLOYMENT CLAIMS (Bearish) Weaker NFP data with Neutral UNEMPLOYMENT CLAIMS (Choppy)
NFP - Forecast 169K vs Previous 256K Unemployment Claims - Forecast 4.1% vs Previous 4.1%
Here's the tricky Part. If data comes out as expected (NFP 169K - UEC 4.1%) thats Bullish, but a choppy market up & down until market finds a valid support/trend.
Plan Of Action. Wait 5 - 15 min after data release. Identify the S&R zones. Wait for Break or Retest. Wait for confirmation (Candle close/Volume Break/Retest). Execute with Proper Risk Management. STICK TO PLAN OF ACTION!!!
Support & Resistence Resistence - 44725 - 44750 Support - 44525 -44500
Technicals Monitor DXY for a weaker Dollar. Currently on the 4hr DXY chart we got a H&S Pattern with MA20 downside cross MA50 and RSI in sell area below 50. US30 we inverted H&S Pattern with MA20 trading close to MA50 for upside cross and RSI in Buy area above 50.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.