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GOLD after the NFPWe had to wait for NFP to cause some moves in price action, so we can finally see GOLD breaking out of its range. We can already see price moving due to the news. We have our closest support and resistance and we need to see in which direction it will breakout. As you already know that means for price to close below/above those levels on the hourly (at least). Once we have a candle close then we could expect a continuation in this direction. In case of a breakout of 1829, next target is 1854! In case of a breakout of 1800, next target is 1784! Watch out for the hourly candle close and if there are no wicks, then look for continuation trades.
FX_IDC:XAUUSD
by ForexTrendline
19
EUR/USD: WAITING THE NON-FARM-PAYROLLS |SHORT SCENARIO ⚡⚡Forecast 03 September 2021 The U.S. Federal Reserve has repeatedly made it clear that the main criterion for winding down support measures would be a stronger labor market. Most interestingly, after disappointing data in July, where unemployment rose to 5.9%, we saw a strong strengthening in August, with unemployment falling to 5.4%. Many analyst agencies have noted that the growth in the labor market has been hampered by those very "American" payouts. In other words, many companies noted labor shortages. Accordingly, the pay cuts that began in late June have not yet had time to affect the June data, but we have seen an excellent strengthening of the labor market in July. The number of jobless claims continues to decline. Both total and initial jobless claims are down. Perhaps not at the pace we would like, but it is continuing. Looking at the labor market, the Fed's goal of 4% unemployment could be reached very soon. Non-Farm Payrolls Employment : - Last data: 943K - Consensus Forecast: 750K The Non-Farm employment change measures the change in the number of people employed during the last month in the non-farm sector. Total Non-Farm Payrolls represent about 80% of the workers who produce all of the Gross Domestic Product of the United States. It is the most important piece of data contained in the employment report that offers the best overview of the economy. Monthly changes and adjustments in the data can be very volatile. U.S. Average Hourly Earnings YoY : - Last data: 0.4% - Consensus forecast: 0.3% This indicator shows the change in the average hourly wage level for major industries, except agriculture. Unemployment Rate : - Past data: 5.4% - Consensus forecast: 5.2% The unemployment rate measures the percentage of the total labor force that is unemployed but actively looking for a job and willing to work in the United States. A high percentage indicates weakness in the labor market. A low percentage is positive for the U.S. labor market and should be taken as a positive factor for the USD.
Short
by FOREXN1
2
Aussie punches past 74, NFP loomsThe Australian dollar rally has continued on Friday, as the currency is higher for a fourth straight day. Currently, AUD/USD is trading at 0.7430, up 0.43% on the day. The US dollar continues to falter, and the Aussie has taken full advantage. AUD/USD has gained 1.66% this week, after sharp gains of 2.42% a week earlier. Investors have given the Australian dollar a thumbs-up and soft Australian data on Friday hasn't put a dent in the currency's upward movement. Australia Retail Sales faltered badly in July, with a reading of -2.7%.  The economy has been hit by the double blow of soft domestic activity and weak global demand, and there are concerns that the economy could slip into a recession. This could depend on how quickly Australia is able to contain the current wave of Covid, which has led to extensive lockdowns. Although the Covid numbers have been relatively low, the government has not hesitated to impose lockdowns, as most of the population has not been fully vaccinated. It has been a rough week for the US dollar and the currency markets appear ready for a further dollar sell-off today. However, such a move is contingent on a soft reading from today's nonfarm payrolls report. The consensus is around 750 thousand new jobs, and if the release is higher than expected, we could see a short squeeze on the US dollar. If the reading surprises to the downside, it could be a rough day for the greenback. The upcoming NFP is critical as the Fed could decide on the timing of a taper based on the reading. The Fed has tied a taper to stronger employment data, and a better-than-expected read could renew speculation about an imminent taper. Conversely, a weak NFP reading will likely delay Fed plans to taper There are resistance lines at 0.7455 and 0.7572. 0.7377 has switched to a support role as the AUD rally continues. Below, there is support at 0.7250
by OANDA
EURUSD Insight before NFPNon farm payrolls coming up all technical and fundamentals to be put to the test today let's go traders bring it home. Well from the weekly up to our lower time frames the EURUSD is in a clear UPTREND we should be looking for buys only now. Confluences 1.Market on the 4h time frame has been consistently Breaking structures. 2.Market has been and should continue to create more higher highs and higher lows. 3.Our last intent movement was to the upside 4.The market has been slow at retracing to the downside All that's left is to wait and see N.B This is not a signal it's a overview be sure to confirm through your back tested strategy before executing any orders
Long
by EHMFO
XAU/USD - CHART ANALYSIS - NFP ! The gold market still has a path to $2,000 in the second half of the year as the precious metal is undervalued in a world awash with liquidity, according to the latest research from Bloomberg Intelligence (BI). In a report published Wednesday, Mike McGlone, senior commodity strategist at BI, said that within the metals complex, gold appears to have the most potential when compared to other assets like copper and aluminum. "Copper and aluminum are reaching upper range price caps, but we see gold as a discounted bull market with improving fundamental underpinnings," he said in the report. "The copper-to-gold ratio has reached the highest level in about seven years and a rare disparity vs. declining U.S. Treasury bond yields, which we expect will be resolved by a resumption of the precious metal outperforming the industrial. Looking at aluminum, McGlone said that tightening supply and demand fundamentals are helping to push prices to $3,000 per tonne; however, similar to copper's run to $10,000, he added that aluminum’s rally appears to be unstable. He said that the industrial metal complex faces some challenging near-term hurdles. "Supply elasticity is proving strong for copper, indicating headwinds for the industrial-metal sector, but ESG, electrification and decarbonization trends should maintain the group's upper hand vs. most other commodities, with the exception of precious metals," he said. "Among the most supply-constrained commodities, gold and silver have the relative advantage heading toward the end of 2021 of having experienced sharp corrections within more enduring bull markets, as we see it." While there is plenty of bullish sentiment surging through precious metals markets, gold prices continue to struggle to find consistent momentum. The precious metal is holding support above $1,800 an ounce, but it has been unable to push above $1,820 an ounce. December gold futures last traded at $1,810.80 an ounce, down 0.29% on the day.
OANDA:XAUUSDEducation
by globalsymmetrygroup
Gold Pullback on NFP NewsThe sentiment has been to sell USD as we start the new month in the fx market. Fundamentals haven't favored the dollar as covid numbers continue to rise and Non-farm Employment change has been disappointing. I see an opportunity for Gold to continue its trend upwards from August as we hit a slight resistance level at $1815.00. A price pullback may be just what the bulls need to steer past this area and upwards to the $1830 liquidity zone. Buy XAUUSD 1796.78 SL 1788.50 TP1 1823.415 TP2 1830.150 Here are the confluence details as follows: 1. $1800 is a known monthly level and key liquidity zone for prices to bounce time and time again. 2. A pullback into this area will form a HL into previous structural highs, a great opportunity to enter the market. 3. H4 0.618 fib retracement level 1796.78 right below monthly level to further build confluence case 4. NFP new coming in a couple of hours which generally favours the USD and solid volatility for prices to hit this level 5. Finally need some sort of price action signal or momentum change in order to enter the trade Note: Risk only 1-2% on any given trade. Happy NFP Trading.
OANDA:XAUUSDLong
by Altconomist
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!
by ForexTrendline
23
GBP/USD - A Strong Barrier of ResistanceThe dollar has come under pressure over the last couple of weeks as the economic data has necessitated a more dovish line from the Federal Reserve. The result is that, despite breaking below the 200/233-day SMA and into bearish territory, the pair has failed to gain much traction to the downside. We'll soon see whether that failure is temporary or more prolonged, with the pair now testing the upper end of that band from below. This also coincides with the 55-day SMA and the 38.2% retracement level of the June highs to July lows. On the 4-hour chart, this also coincides with the 200/233-period SMA band, so it's no surprise the pair is seeing so much resistance around this area. The rally over the last couple of weeks is seeing momentum slow, as evidenced by the rising wedge - a bearish pattern, and the stochastic and MACD on the 4-hour chart, where divergences are clear. That would suggest a continuation of the move lower is more likely but also that a break above 1.38 could trigger quite a sharp and bullish move higher, with stops above here potentially exacerbating any move. With Fed speakers and US data today and the US jobs report tomorrow, we may not have to wait long to see which it will be.
by OANDA
EUR/USD: NON-FARM-PAYROLLS - DATA EXPECTED TO BE STUNNING! ⚡Forecast 03 September 2021 The U.S. Federal Reserve has repeatedly made it clear that the main criterion for winding down support measures would be a stronger labor market. Most interestingly, after disappointing data in July, where unemployment rose to 5.9%, we saw a strong strengthening in August, with unemployment falling to 5.4%. Many analyst agencies have noted that the growth in the labor market has been hampered by those very "American" payouts. In other words, many companies noted labor shortages. Accordingly, the pay cuts that began in late June have not yet had time to affect the June data, but we have seen an excellent strengthening of the labor market in July. The number of jobless claims continues to decline. Both total and initial jobless claims are down. Perhaps not at the pace we would like, but it is continuing. Looking at the labor market, the Fed's goal of 4% unemployment could be reached very soon. Non-Farm Payrolls Employment : - Last data: 943K - Consensus Forecast: 750K The Non-Farm employment change measures the change in the number of people employed during the last month in the non-farm sector. Total Non-Farm Payrolls represent about 80% of the workers who produce all of the Gross Domestic Product of the United States. It is the most important piece of data contained in the employment report that offers the best overview of the economy. Monthly changes and adjustments in the data can be very volatile. U.S. Average Hourly Earnings YoY : - Last data: 0.4% - Consensus forecast: 0.3% This indicator shows the change in the average hourly wage level for major industries, except agriculture. Unemployment Rate : - Past data: 5.4% - Consensus forecast: 5.2% The unemployment rate measures the percentage of the total labor force that is unemployed but actively looking for a job and willing to work in the United States. A high percentage indicates weakness in the labor market. A low percentage is positive for the U.S. labor market and should be taken as a positive factor for the USD.
Short
by FOREXN1
4
Gold Bargain Bullish toward - 2104Majority have been eager to buy and buy and buy, yet on the daily we can see a hard rejection off 1830.00 This shows us the amount of buy stops accumulating at this level , notice price triggered and dropped = heading toward majority of SL placements ( below 1810.00 ) *We need moves like this to switch the consensus of retail to take the opposite sides of positions , COT Data shows more longs than shorts, yes, however pay attention to COT data from commercials and producers Commercials and producers will need managed money to take the other side of their orders, and non commercial need non reportable and commercial to take their opposite sides = they all make a profit We cannot buy from above 1800 …this is an expensive price ( psychological number ) which behavior of price today confirms price looking for a more “ suitable “ price to buy at = in other words - Gold has just gone on Sale
SAXO:XAUUSDLong
by HuracanFX
Gold August 2021 FlashcrashGoodmorning guys, What a night. After gold lost more than 900 pips in an hour, gold pared its losses back to 1750. We have 2 scenarios in play; either bears want bearish continuation and want to test the monthly bullish trendline that goes back 3 years ago, or we have a big a$$ W-formation targeting new ATH. Not a great setup to trade and too risky for me, so I am taking a little break to see more confirmation. There is always another day. For now 1750 seems broken and acts as resistance. Trade safely.
OANDA:XAUUSD
by CesaroPelucci
1
Key Points From The U.S. NFP Jobs Report (09 August 2021)KEY POINTS: In July, 943,000 jobs were created Highest figure since August 2020; main driver of this strong increase is the Leisure and Hospitality sector Number of jobs created in June was revised upwards from 850,000 to 938,000 Number of jobs created in May was also revised upwards from 583,000 to 614,000 Total number of jobs at the moment is still around 5.8 million below the pre-pandemic level Unemployment rate declined from 5.9% to 5.4% Average hourly earnings rose by 0.4% Rising demand for labour likely led to the rise in earnings Participation rate inched higher from 61.6 to 61.7
TVC:DXY
by GH_Lee
Non-farm Payrolls - Data Expected to Be Stunning!Following last week's Fed meeting, it was clear that the central bank was only putting off hawkish rhetoric, but was not ruling it out in the near future. Consequently, the basis for expectations is there, we just need data that would indicate that the economy continues to grow. The hope is the U.S. unemployment report coming out this Friday. It is expected that job growth, the most important indicator in terms of the Fed's post-pandemic policy impact could show a figure close to a million. If the economy creates more jobs than forecast, the odds increase sharply that the Fed will warn in August about a policy adjustment - a reduction in the pace of asset purchases (treasuries and mortgage-backed securities), probably this year. In that case, long-dated bonds would become slightly less profitable, given the approval of the infrastructure plan, which would require new borrowing, investors could start exiting treasuries en masse. Non-Farm Payrolls Employment Last data: 850K Consensus Forecast: 880K The Non-Farm employment change measures the change in the number of people employed during the last month in the non-farm sector. Total Non-Farm Payrolls represent about 80% of the workers who produce all of the Gross Domestic Product of the United States. It is the most important piece of data contained in the employment report that offers the best overview of the economy. Monthly changes and adjustments in the data can be very volatile. U.S. Average Hourly Earnings YoY Last data: 0.3% Consensus forecast: 0.3% Unemployment Rate Past data: 5.9% Consensus forecast: 5.7% The unemployment rate measures the percentage of the total labor force that is unemployed but actively looking for a job and willing to work in the United States. A high percentage indicates weakness in the labor market. A low percentage is positive for the U.S. labor market and should be taken as a positive factor for the USD.
Short
by FOREXN1
8