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Nfp

GU Short BiasLast week was NFP, so we expect a long term trend to kick in. So as per the Strategy, we wait for the daily (Monday) candle to finish forming and on Tuesday open we set stop pending orders at 15 pips from high and low of Monday candle then we let market do it's thing, once triggered we exit position by Friday afternoon. As for NFP intraday Strategy, at 1530(GMT +2) when news are released, don't place any trades yet, do the following steps. 1. Switch to M5 TIMEFRAME 2. So once it's 1530 we wait for the candle to finish forming 3. At 1535(still on the M5(5 Minutes timeframe) you use the news candle( the one that just previously closed) then u place stop pending orders at the high and low of the news candle at 15pips/150 points distance. 4. Once either of the order gets triggered you delete the one which didn't trigger 5. Exit position before the day ends.
Short
by BROWN_SWISS_KAPITAL_FX
1
Markets await RBA decisionThe Australian dollar has started the week with slight gains. Currently, the pair is trading at 0.7626, up 0.25% on the day. Friday's Nonfarm payrolls was expected to be strong, and NFP delivered big, with a read of 916 thousand, up from 379 thousand a month earlier. This figure easily beat the forecast of 652 thousand. With the US recovery gaining traction and the Biden administration pouring trillions of dollars into the economy, we can expect upcoming NFP prints to be above the one million level. That is, if the vaccination rollout continues as planned. The US dollar didn't show much reaction to the blowout release, and AUD/USD was muted on Friday. Overshadowed by the sparkling NFP report was a drop in the unemployment rate, which dropped from 6.2% to 6.0%, matching the forecast. Unemployment continues to fall and this was the lowest level since April 2020, prior the huge jump in unemployment due to the Covid pandemic. The RBA holds its monthly policy meeting on Tuesday (4:30 GMT). The meeting is expected to be uneventful, with the central bank widely expected to maintain interest rate and interest rate and yield curve targets at 0.1%. The bank's QE programme of A$100 billion is set to expire but will be immediately renewed for a six-month period.  The RBA has been in dovish mode, stating that it expects to maintain its current stance until 2024, when inflation is projected to reach the bank's target of 2-3%. However, Australia's economy has been recovering rapidly and it's entirely possible that inflation could reach this target well before 2024, in which case we could see rate hikes ahead of the RBA's schedule.  AUD/USD faces resistance at 0.7675. Above, there is resistance at 0.7735 The first line of support is at 0.7543, followed by support at 0.7471.
by OANDA
1
Yen falls to 10-month lowThe Japanese yen has started the week with considerable losses. Currently, USD/JPY is trading at 108.82, up 0.51% on the day. The yen's woes continue, as the US dollar continues to beat up on the Japanese currency. USD/JPY has jumped 5.6% since January 1 and is pressing on the 109 line, which has held since June 2020. The catalyst behind the recent strength of the US dollar has been the recent rise in US Treasury yields. The 10-year bond climbed to 1.60% earlier on Monday, while 30-year bonds rose to 2.31%. The yen is particularly sensitive to rate differentials between the US and Japan, so the increases in US yields are putting strong pressure on the Japanese currency. The higher US yields were in response to the Senate passing a massive 1.9 trillion dollar stimulus package on Saturday. The bill now returns to the House for some amendments, and will likely to be signed into law by President Biden by March 14. Although the dollar's strength is largely due to the increase in US yields, fundamental releases should not be overlooked. A surprisingly strong US Nonfarm Payrolls last week has provided the US dollar with further upward momentum. The gain of 379 thousand easily beat the forecast of 197 thousand, and was the highest reading since October 2020.  Later on Monday, Japan releases a data dump. Consumer spending and wage growth are both expected to show contraction (23:30 GMT). Japan's second-estimate GDP is expected to show growth of 3.0%, confirming the initial estimate (23:50 GMT). USD/JPY broke above resistance at 108.16 on Friday. The next resistance line is at 109.64, followed by resistance at 110.07. There is support at 106.96, followed by a support line at 105.53. There may be an opportunity for buy-on dips as low as 107.50
by OANDA
H4 - Pre-NFP with potential short trade opportunity...Pre-NFP with a potential short/sell trade opportunity on 3 APFs and some confluences. Price retracing to 1.25755 will invalidate the short/sell trade setups and a long/buy trade opportunity might as well come into play. We will see... The market setup, entry, SL, TP, and POR as seen in the chart. Good luck and TAYOR! Abbreviations / Keywords: LTF - Lower Time Frame HTF - Higher Time Frame TF - Time Frame TRS - Trend Reversal Strategy CRT - Counter-Retail Technique / Break-out APF - Advance Pattern Formation W4C - Waiting for Confirmation LLCC - Lower low, lower close HHHC - Higher high, higher close SL - Stop loss TP - Target Profit POR - Point of Ruin RRR - Risk Reward Ratio Risk Disclaimer: This is not a trade signal hence we'll not be held responsible for any losses that will occur in your account during trading. You and you alone are responsible for deciding if you are comfortable accepting the potential risk involved in trading. So trade at your own risk and do not invest money you cannot afford to lose. Do your own due diligence.
Short
by TheForexSamurai
1
H4 - An opportunity for a potential long trade with catalyst?Today would be the US NFP. Could there be a movement giving me an opportunity to trade the ff. setups? We will see. The market setup, entry, SL, TP, and POR as seen in the chart. Good luck and TAYOR! Abbreviations / Keywords: LTF - Lower Time Frame HTF - Higher Time Frame TF - Time Frame TRS - Trend Reversal Strategy CRT - Counter-Retail Technique / Break-out APF - Advance Pattern Formation W4C - Waiting for Confirmation LLCC - Lower low, lower close HHHC - Higher high, higher close SL - Stop loss TP - Target Profit POR - Point of Ruin RRR - Risk Reward Ratio Risk Disclaimer: This is not a trade signal hence we'll not be held responsible for any losses that will occur in your account during trading. You and you alone are responsible for deciding if you are comfortable accepting the potential risk involved in trading. So trade at your own risk and do not invest money you cannot afford to lose. Do your own due diligence.
Long
by TheForexSamurai
NZDUSD - Still Expecting Bullish Pressure As we all can see, NZDUSD had allowed the bears into the neighborhood which is OK because it's been respecting a channel for some time now. If you are in a buy dealing with drawdown, there could still be hope. Price has retraced but HASN'T broken and closed below structure. Still hoping for the Bulls to take over and take price to highest level of resistance before the drop again. On the other hand, NFP NEWS is tomorrow morning 8:30 EST. Gotta keep that in mind when thinking of placing trades due to high volatility in the market. *This is just my personal opinion. This is not any financial advice as I am NO financial advisor.*
Long
by Rhoward29
1
USD remains strong!As we mentioned in yesterday's analysis, we saw an important day for the USD. After Jerome Powell's speech, the dollar rose everywhere. Did we expect it? See our latest analysis: AUDUSD EURGBP USDJPY Now the NFP data is coming! We expect to see a continuation of EURUSD to 1.1917! The resistance zone is 1.1996-1.2020. And the minimum stop is over 1.2055! If you have questions about how to trade this or that situation, contact us! To support us, please like and comment
Short
by ForexTrendline
4
Pound continues to driftThe British pound is almost unchanged for a third straight day. Currently, GDP/USD is trading at 1.3964, up 0.07% on the day. The British pound is in tranquil waters this week, after the currency slid 1.5% late last week. The catalyst for the steep drop was the sharp jump in US Treasury bonds, which boosted the US dollar. However, with US Treasuries retreating, the dollar's rally has run out of steam, and GBP/USD has been trading slightly below the 1.40 level for most of the week. The UK services sector has been hard-hit by the Covid-19 pandemic, and health restrictions and the national lockdown have resulted in contraction in Services PMI for the past four months. Still, the PMI showed strong improvement in February, rising from 39.5 to 49.5 index points. This shows a degree of stability has returned to the services sector, which is just a tad below the 50-level, which separates contraction from expansion. The lockdown has resulted in pent-up consumer demand, and with the government slowly opening up the UK economy, we can expect the services sector to rise into expansion territory later in the year. Over in the US, the ADP Employment report was surprisingly weak, with a weak gain of 117 thousand. This was much lower than the previous release of 174 thousand and nowhere near the forecast of 203 thousand. The big question for investors is whether the weak ADP reading will be followed on Friday, when the official nonfarm payrolls report is released. The forecast stands at 185 thousand, and a significantly lower release could weigh on the US dollar. There is resistance just above the 1.40 level, at 1.4005. The next resistance line is at 1.4050 The first level of support is at 1.3954. Below, we find support at 1.3814. This is followed by the rising wedge at 1.3785
by OANDA
Low risk, high reward long opportunity pending on Gold Good day Tradingview, Great possibility on XAUUSD , minimal risk, major reward - However, do remember, patience is a virtue. As we approach NFP week, it's advised to be cautious as we would want to only go long after our desired, further push down, to 1690.00 and possibly even to the greater 1650.00 region. Additionally, fundamentals are required to tally with our technical analysis . In which case we'd seek buy limit orders, should those prices fail to reach - we would opt for market execution based on bullish confirmations and HL's. Resulting in placing of buy stops above between 1700.00 - 1750.00, and executing on pull backs all the way to the upside. Bullish flag confirmation resting on a monthly support and demand zone ticks the boxes - Essentially, we're just awaiting fundamentals to fall into place. Consider this trade opportunity a marathon , not a sprint . I foresee a buy bias for the future. Gold, as well as crypto will be continue to act as safe havens in these trying times of the Global economy. Updates to follow.
OANDA:XAUUSDLong
by rushnft
1
What to do around Major Economic News?Generally, price action traders believe that price discounts every factor that may influence a security's price. But you should Not Ignore Major (High Impact) Economic News Announcements like: Interest Rate decisions, Non-Farm Payroll, FOMC, Crude Oil inventories, and so on... REASON: - If you did take a trade in line with the result of the economic news release you stand to make a lot more money in a very short period of time. - But if your trade direction was against the news, you can walk away with all your profits wiped out or even a loss, and the loss can be huge because markets can move so fast during that period that your stop loss might not get triggered; so you end up losing much more of what you intended to lose. WHAT TO DO? As per my trading plan, I check the news calendar every Monday, and before the news release, I follow the table as per the picture above. Always think in terms of Risk vs Reward. For example: I always target (+2R) double the stop loss size and let's say my trade is floating around +1.8R If the news was in my favor, I would earn that extra +0.2R But if the news was against my trade direction, I would lose the 1.8R In this particular example Risk (losing 1.8R) >>> Reward (earning extra 0.2R) so I close the trade before the news release and book that +1.8R All Strategies Are Good; If Managed Properly! ~Rich
COINBASE:BTCUSDEducation
by TheSignalyst
113
XAUUSD TO 1790Following the recovery of the Dollar index ( DXY ), XAUUSD has been following the inverse trend and dropping. It has made its first impulse move downside, currently in wave 2 which is the correction phase and now it is bouncing from the resistance zone indicating the corrections done and wave 3 to the downside is now about to begin. DXY is also creating an inverse Head & Shoulders pattern indicating another upwards move towards the $94 resistance. I will be cashing into this move alongside my Account Management investors.
OANDA:XAUUSDShort
by BA_Investments
6
USDCAD Conflicting CluesLast Friday we had unemployment figures from both Canada and the US. Below were the results. USA - Average Hourly Earnings (YoY): 5.4% USA - Nonfarm Payrolls: 49K USA - Unemployment Rate: 6.3% CAD - Employment Change: -212.8K CAD - Unemployment Rate: 9.4% Here you can see the US reported their unemployment rate at 6.3% signaling a nice improvement, following a not so nice NFP report with only 49k new jobs. On the other ide of this pair, Canada reported a much higher Unemployment figure at 9.4%. The initial reaction with USDCAD was bullish but then as the trading session progressed this pair continued getting weaker. Some key drivers heading into this week include: Earnings, Stimulus, Core CPI (Wednesday) US Federal Budget d (Wednesday) Fed Monetary Policy Report (Thursday) and perhaps some further CAD strength if Oil Continues it's bullish path towards $60. As we know, certainty surrounding additional stimulus supports a stronger equity market and thus drives the TVC:DXY lower. On a technical basis, the pair is indicating some strange behavioral patterns such as the convergence seen here on the daily chart. RSI did manage to close below 50 heading into Friday's close. A close below 50 does indicate that we could be heading lower but if you take a closer look how the 50 level behaved with this pair, you'll many instances when that may have been a misleading clue.. Needless to say, holding below 50 is taken into minor consideration, but we should also monitor the next 2 major fib levels such as the 50% and 61.8% illustrated on the chart. Key clues regarding the direction of this pair should include keeping a close tabs on the TVC:DXY TVC:SPX TVC:NDX TVC:VIX and of course overall market sentiment. Trading Recommendations == keep bullish trading activities light with this pair considering we may still see some further bearish downside == keep shorts limited as well considering there very well could be some upside towards 1.30 ------------------------- Please don't forget to FOLLOW, LIKE, and COMMENT ... If you like my analysis:) Trade Safe - Trade Well Regards, Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc. RISK DISCLAIMER Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in Forex you should consider your knowledge, investment objectives, and your risk appetite. Only trade/invest with funds you can afford to lose.
by Michael_Harding
1
DXY could FALL again!Hey tradomaniacs, DXY (US-DOLLAR-INDEX) broke out of its trendchannel and could continue to fall if it braks the current support-zone 👉 Non-Farm-Payrolls almost as good as expected, but overall not as good as priced in. I did a lot of research due to the current correlations in the market. You might remember that I said that we will reach a point where the market is going to price in that the FED won`t continue with its current dovish monetary policy anymore, or at least, can`t increase their volume of certain liquidity-packages. The market would begin to "bet" against the central banks as they did back in the days and price in less liquidity and so in the future higher interest-rates when the economy recovers faster than expected. Now a worse NFP-Result could put these bettings agaisnt FED under pressure!
TVC:DXYShort
by Trading2ez
3