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NonFarmPayroll Prep (DXY)NFP analysis for the first Friday of the month! The expectation is for an increase of 295K with last month released at 528K (The previous month's forecast was 250K). And relatively unchanged in terms of the unemployment rate and average hourly earnings. Even a day before, the DXY shot up from the 109 level to test the 110 price level, opening up the possibility of a priced-in scenario. Typically the currencies sit in a tight consolidation in the leadup to the data release, but this time, the DXY is actually dropping before the news. The DXY could drop lower towards the 109 level (and bottom of the upward channel) before the news or on the release of the news. If the data is better than expected, the USD should strengthen, pushing the price from 109 to 109.50 and possibly even the 110.50 target level. If the price breaks below the 109 level and beyond the channel, the DXY could continue lower towards the next support level of 108.20 before a possible bounce.
TVC:DXYLong
by JinDao_Tai
EURUSD before NFP Yesterday this pair broke below 0,9980 confirming the downside move. Today is the first Friday of the month and we have NFP coming out. There will be volatility during the news and we could see further confirmation to the downside. The levels below the parity will act as resistance and we will expect that price should reject them and eventually form a new low. Once we break below 0,9900 we should see 0,9800 next! Stops should be above 1,0090 in case of price rejecting the mentioned levels.
by ForexTrendline
5
Could today’s NFP confirm the USD breakout? Hello all, welcome to today’s update. Today’s video focuses on the USD index after buyers made another strong move in yesterday’s NY session. In today’s video, we run over the price current price action and trend structure after buyers made a breakout yesterday, clearing 109 resistance that held buyers back during this week. The USD continues its fantastic run in 2022 as Fed policy maintains buyer demand. Price jumped to new 2022 highs yesterday and continues to track nicely on its current fast trend. Attention moves to today’s US employment data, as this could maintain the run or lead to a pullback as traders will be waiting to see if we see another hot payroll figure. The last several releases have beaten expectations and come in hotter, so if we do see this pattern continue, will this be the confirmation for yesterday’s resistance break? We think a lower figure will most likely have a negative effect on the USD index and could cause a failed break. Attention could also be on major risk currencies like the EUR, AUD and GBP as they sold off yesterday, and if we see another push higher on the USD today, this could continue their pain. Tonight’s US employment data will be released at 10:30 pm AEST / 8:30 am ET. Thanks for stopping by to check out our latest analysis. Enjoy the rest of your day and your weekend.
EIGHTCAP:USDX
by Eightcap
DXY monthly forecast ahead of NFP At August’s close, the USD can be said to have performed exceedingly well against its trading partners. The DXY climbed 3.2% over the month. Now it heads into a very important Non Farm Payrolls result, and investors will be looking for clues as to the USD’s next move. The Non Farm Payroll data for August is released on September 2, 2022, and is perhaps more eagerly anticipated than normal. The reasons for this are detailed in Monday's market review Pound and gold head lower before NFP data. The worst performing USD pair over the past month has been the Pakistani rupee (USD/PKR), which fell by more than 8.0%. But this movement against the USD was far from the norm. The movements of other currencies include: GBP/USD, fell by 5.2% NZD/USD, fell by 2.9% EUR/USD, fell by 2.1% AUD/USD, fell by 1.9% USD/INR, rose by 1.4% USD/RUB, rose by 1.7% USD/CAD, rose by 2.1% USD/CHF, rose by 2.5% USD/JPY, rose by 5.3% We can look at the DXY chart on the monthly timeframe to try to ascertain whether the USD can sustain this upside momentum. Thus far, technical analysis is maybe suggesting that the US dollar still has plenty of space to move toward the upside. The monthly candle’s 107.500 resistance area, which is now broken, opens traders to scope out higher levels of resistance including 110.00 and 116.500. The former of which the Dollar index is currently butting up against. Further afield, traders may want to keep the 2-decade high of 120.000 in the back of their mind. Such a lofty prediction is seemingly backed-up by an upcoming US Federal Reserve interest rate decision. On the other hand, traders should be wary as well. The price could also create a monthly pullback as the Williams %R indicator is currently planted in the extreme upper range above 20%, which indicates that the price might be in overbought territory.
TVC:DXY
by BlackBull_Markets
AUDUSD Prediction Ahead of NFP Report Welcome back! Let me know your thoughts in the comments! **AUDUSD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
9
DXY : Bull or Bear ? Let's See !After last night's analysis of the dollar index, we saw a price drop of 60 pips from exactly the same range ✅ ! Currently, the price has recovered from this drop, but it is still in an important range that today's statistics can determine the trend of the dollar index ! Follow us for more analysis & Feel free to ask any questions you have, we are here to help. ⚠️ This Analysis will be updated ... 👤 Arman Shaban : @ArmanShabanTrading 📅 08.31.2022 ⚠️(DYOR) ❤️ If you apperciate my work , Please like and comment , It Keeps me motivated to do better ❤️
TVC:DXYShort
by ArmanShabanTrading
33
What happened to Gold after NFP?Here is a quick analysis of what happened to Gold after Friday's NFP. Asian and London Session. NFP caused this large drop in the price of Gold on Friday. The close of the second candle after the drop becomes an important price point called A. Price falls again and consolidates in a range at this 1775 level. The first proper breakout happens with a large bullish engulfing which covers the entire span of the ranging box. It is followed by a hanging man, which in this situation tells us that the bears lost their strength. This is followed by the London open which pushes the price back up to A before dropping back down into the box. Another bullish candle pushes back up to A. There is a slight retracement before price breaks above and closes above the line which is the close of A. The red line is the POC (Point of Control). This is the price at which most trading has happened. I inferred several things from this line: -this is a significant support and resistance -many positions are entering here -overall fundamentals support a bullish bias for Gold -therefore, I'm assuming many of these are buys I had a buy from just below the break of the box to just below A after the consolidation.
FX:XAUUSD
by Shanktown
How did the market react after July’s Non-Farm Payrolls? The Non-Farm Payrolls (NFP) for July 2022 surprised many as it reported that the US economy added 528,000 jobs, more than twice the consensus forecast. Total NFP employment has now returned to the pre-pandemic level, when 20 million jobs were lost. At the same time, the US Unemployment Rate decreased to 3.5%, the lowest rate since February 2020. Additionally, US Average Hourly Earnings MoM for July jumped by 0.5% for the month and 5.2% over the year ending in July. US stocks ended last week mixed after the strong NFP. While the Dow Jones Industrial Average increased by 0.2%, the S&P 500 and NASDAQ 100 fell by 0.2% and 0.5% respectively. The weekly closing, however, shows that NASDAQ 100 gained 2.2%, the S&P 500 gained 0.4%, and the Dow Jones lost 0.1%. Gold and silver finished sharply lower, as metal traders took in the jobs and employment reports. XAU/USD fell by almost 0.90%, closing at $1,774 per ounce, while XAG/USD slipped by nearly 1.40% to 19.88 last Friday. The data releases sent the US Dollar Index (DXY) to the upside, helping combat the decline it has experienced over the past few days. The DXY jumped 0.88% to above 106.60. With individual forex pairs, the USD made significant gains, including: EUR/USD fell by 0.67% to 1.01803 GBP/USD fell by 0.75% to 1.20703 AUD/USD fell by 0.84% to 0.69116 NZD/USD fell by 0.91% to 0.62260 The USD/JPY was the biggest mover, booking a 1.57% gain to 135.03. Technical analysis anticipated this move in the USD/JPY, with the DeMarker Indicator below 30, suggesting an oversold bias and prime conditions for a reversal. This uptrend might also continue as the price closed above the 50-EMA. Key areas to the upside might include 135.50, 135.60, 136.00, and 136.60.
by BlackBull_Markets
Dollar Strengthens on NFP DataThe US dollar has gained incredible strength off of the Non Farm Payroll numbers, which came at a headline beat with employment at 3.5%. This suggests that the markets feel that the Fed is now more emboldened to hike rates even further at their September meeting. The DXY is still holding the range established when it started its sideways corrective phase after the pull back from the low 109's. We dipped down into the 105's, and subsequently pivoted back to the 106's, with 107.20 still an upper bound. If we retrace this rally, then expect support at 106.13 or the 105's.
TVC:DXYLong
by quantguy
What Today's Employment Data Means for Stocks and the FedNon Farm Payrolls introduced some volatility in stocks. The numbers came in hot, with a headline beat and unemployment at 3.5% . The S&P 500 had already edged higher, reaching our target of 4178, and establishing value between 4144 and 4178. The NFP data release introduced some volatility, with a small selloff extending past 4122 into the vacuum zone down to 4068. It appears the figures were priced in already, and stocks may be correcting because of that. Also, the strong numbers give the Fed more justification to hike rates in September. If stocks fall further watch for support at 4068, but be mindful of the vacuum zone below to 4009.
FX:SPX500Short
by quantguy
⚠️ XAUUSD 1W TF : NFP ⚠️ 08.05.22By analysing the gold chart in Weekly and 4H TF , we can see that currently the important short-term resistance is the price range of $1,783 to $1,810, and the price entered this zone twice this week, and both times faced strong pressure from the bears.The important support ranges are 1755$ to 1765$ and 1717$ to 1725$ respectively, this analysis complements the previous analysis! Follow us for more analysis & Feel free to ask any questions you have, we are here to help. ⚠️ This Analysis will be updated ... 👤 Arman Shaban : @ArmanShabanTrading 📅 08.05.2022 ⚠️(DYOR) ❤️ If you apperciate my work , Please like and comment , It Keeps me motivated to do better ❤️
FOREXCOM:XAUUSD
by ArmanShabanTrading
17
XAUUSD - KOG REPORT - NFP!KOG Report – NFP This is our view for NFP today, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile and can cause aggressive swings in price. We’re going to keep this short this time as we don’t really want to get stuck around this price point if there is a move to come during NFP and the US session. We’ve done well this month so far with most of our targets being hit and the move on Gold that was illustrated in our reports now being completed. For us this is a short region, however, we have NFP so it’s thrown a bit of a spanner in the works. For that reason we have plotted the higher levels on the chart that we feel would represent price regions to short from and the lower levels we feel would represent an opportunity to long from. The key resistance here is that 1795-1806 level which has been used previously to propel the price in either direction so there is a possibility of a spike into that area before then coming down and then coming back up at some point. A break of this level and you can see the higher levels that we have illustrated, the highest one around 1825-35 is our preferred choice to short if it goes there! When it comes to the lower levels, we’re looking for the price point of 1775 as a key region which if broken should take us down into that lower level shown where, based on strong support we feel an opportunity to take the long trade back up could be on the cards. Please note, this chart is for NFP only at the moment, and that’s if the price moves. Lately, we’ve seen most NFP’s and FOMC are priced in and we don’t get much of a chop in the markets. In summary, we’ve been following the same plan for a few months now and will remain with it. We can see a push to the upside at some point into that 1825-35 price point, so please keep this level in mind! Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
13
USD/CAD eyes Canada, US job reportsIt's a busy day in both Canada and the US, with both countries releasing July employment reports. It wasn't so long ago that US nonfarm payrolls was eagerly anticipated and was the most important event of the week. The NFP often had a significant impact on the movement of the US dollar. That has changed in the new economic landscape of red-hot inflation and central banks raising interest rates practically every month. The NFP has been overshadowed as the media breathlessly reports new inflation records and the threat of a recession. Still, the NFP remains an important indicator and a surprise reading can still shake up the markets. The July NFP is expected at 250 thousand, following a surprisingly strong June release of 372 thousand. A weak reading will raise concerns about a recession, which would likely see US yields and the US dollar fall. Conversely, a stronger than expected number would probably boost yields and the US dollar, as a stronger labour market would allow the Fed to remain hawkish regarding rate policy. The markets have priced in an inflation peak and the Fed winding up its rate-tightening cycle, which has sent the US dollar on a hasty retreat. Fed policy makers have been pushing back, sending out the message this week that there are more large hikes on the way as inflation is not yet under control. A strong NFP reading would reinforce the Fed's message and provide some support for the US dollar. Canada will also publish employment data later today. The economy is expected to have created 20.0 thousand jobs in July, after a decline of 43.2 thousand in May. A stronger-than-expected reading should boost the Canadian dollar, while an underperformance could result in the currency losing ground. As well, Canada releases Ivey PMI. The indicator slumped to 62.2 in June, down from 72.0, and is expected to slow to 60.3. A surprise reading could have an impact on the direction of USD/CAD in the North American session. USD/CAD is putting pressure on 1.2899. Above, there is resistance at 1.3002 USD/CAD has support at 1.2741 and 1.2686
by OANDA