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GOLD CONFIRM TARGET FOR TODAY NFP NEWSThe Bureau of Labor Statistics (BLS) is due to release the highly-anticipated Nonfarm Payrolls (NFP) report from the United States (US) on Friday, which could have major ramifications for US Federal Reserve (Fed) policy outlook. The US Dollar (USD) is poised for a big reaction to the labor market data, as NFP data tends to infuse intense volatility across the FX board. The Fed on Wednesday kept the policy rate steady in its current 5.25%-5.50% range, as widely expected. The US Dollar, however, succumbed to the sell-off in the US Treasury bond yields after Fed Chair Jerome Powell remained non-committal on the need for further tightening. Although Powell did not rule out another hike, markets perceived his words as not-so hawkish as they expected. Powell acknowledged tighter financial conditions while adding that taming inflation will most likely require a slowdown in growth and dampening in the labor market. Gold Buy : 1989 TP. : 1997 TP. : 2005 TP. : 2010 SL. : 1976
OANDA:XAUUSDShort
by FxAlena
THE KOG REPORT - NFPNFP – KOG Report: This is our view for NFP tomorrow, 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 these events can cause aggressive swings in price. We’ve done well with Gold so far with our bias and targets to the downside being completed. We suggested on the KOG Report that we’re a bit low in a region here to attempt shorting, unless scalping using the red box strategy which has done well. For NFP, we’re likely to sit out as we want to see where they take the price and close the daily and weekly candle. This we feel will determine whether to start longing the lows temporarily, or, to continue with the bias to the downside looking for a temporary bottom before an aggressive push up. Our Monthly, and weekly charts still show lower targets, but we’ll have to play it how we see it. For this NFP, we’ll be looking at order regions and extreme levels only. If we don’t get them we’re happy to sit out and wait until next week where better setups are sure to arise. For new traders, we would suggest you don’t trade the event, rather wait until next week and then look for a good set up to get in. We have the levels above order region 1830-35 which if held could represent an opportunity to short the market down into the lower levels below 1800 as illustrated on the chart. Please note, breaking below 1790 and we will suffer further losses before a technical retracement, breaking above the order region will take us in the next level above. Above the first order region we have 1850-55 and 1860-8 in extension, these are the first resistance levels we will be looking at for a reaction in price to take this down. Again, breaking that level and the next region above which is preferred is 1880-85 which would represent an opportunity to short the market. The reason they’re stretched is because the price is stretched, and unless we get a good return on our trade, we’re not interested in the noise. Please members, don't try and trade this up and down! Look for one level which fits with your analysis and strategy, wait for it and test it with a risk strategy in place. Those who think they will be able to long into one level, then short it back usually fail, unless they're experienced traders. 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
14
NZDUSD Struggling to break 0.61Hello Traders, today the FX:NZDUSD pair in struggling to break the 0.61 level and re-enter in the local channel (highlighted by yellow trendlines). Today operativity will be to monitor 2 things : 1. A break of 0.61 that wil give the possibility to re-enter the channel and target the 0.62 levels probably the coming week 2. If prices stay below the 0.61 level the sentiment could turn bearish targeting the 0.598 level that represent the bottom of the mail descending channel. I'm expecting big volatility due to NFP and Uneployment Rate at 14.30 UTC+2 Levels to watch and trade: - 0.6125 200 MA on 30M chart that represent the resistance - 0.6065 we have the support So, a break and close above 0.6125 will be considered as a bullish sign targeting 0.62+ levels and a break below 0.6065 a bearish one targeting 0.6020 and further. In my opinion the best thing to do is to trade according to the mentioned levels and avoid trade the news because you might break your account.
by IllyrianTrader
USDJPY I Expect to rise after 339K May NFP report Welcome back! Let me know your thoughts in the comments! ** USDJPY Analysis - 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!
Long
by BKTradingAcademy
2
NFP report: How Will it Shape the Gold Trend? NFP report: How Will it Shape the Gold Trend? Gold prices experienced a rise on Tuesday and Thursday (sideways on Wednesday), driven by traders' expectations of another interest rate hike by the US Federal Reserve. But is the medium-term downtrend really over? One fundamental indicator that can help answer this question is the nonfarm payrolls, due to be released this Friday (US time). Any unexpected outcomes could lead to heightened volatility in rate-sensitive assets such as gold. Market projections indicate that the upcoming nonfarm payrolls report for May will show a slowdown in job additions to the economy, with 190,000 jobs compared to the 253,000 jobs added in April. Interestingly, the forecast for the previous month was also around 190,000 jobs. The nonfarm payroll data serves as the final key indicator ahead of the release of inflation data on June 14 and the concurrent interest rate decision from the Federal Reserve. Market sentiment currently suggests a 60% probability of a 25 basis-point interest rate hike during the Federal Reserve's upcoming June meeting, compared to a 26% chance observed a week earlier. If implemented, this would mark the central bank's 11th consecutive rate increase. Gold was trading around $1,932, reaching its lowest level since March 17 before its incline began on Tuesday. While Thursday was a positive day for the metal, it still retraced about half of its gains on the day and now trades at approximately $1,960. It peaked at $1,974, which is the most immediate resistance level but without much historical precedence. Considering the NFP is still two days away, this level might become irrelevant. $1,985 is a level with more medium-term precedence but will have to wait until closer to the release of the data to tell if this level is something that needs to be watched. If gold turns to the downside, it might pay to keep an eye on $1,938 as a support level.
BLACKBULL:XAUUSD
by BlackBull_Markets
USDJPY I NFP Results! Goal Achieved!💰Welcome back! Let me know your thoughts in the comments! **USDJPY NFP Analysis - 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!
Long
by BKTradingAcademy
15
NFP set to be Bearish, Here's Why 😉👇After some careful analysis I've come to the conclusion that the NFP may want to push the market into a downfall. The week has been quite bullish since the week started and a weekly significant high has already been taken, I believe it's time the market corrected some price imbalances it left out on the rush to the upside. The Fair Value Gap highlighted by that triangle is best visible from the 5 Min Chart to see where the idea is coming from. Let's Play a Game, If I'm Right, You Follow... deal 🤝 Enjoy 😉 NOTE: NOTICED MY FIRST POST HAD 2 CHARTS OVERLAPPING, THIS IS A REPOST
UShort
by XeroxFTC
2
NFP set to be Bearish on NASDAQ 👇😉, Here's WhyAfter some careful analysis I've come to the conclusion that the NFP may want to push the market into a downfall. The week has been quite bullish since the week started and a weekly significant high has already been taken, I believe it's time the market corrected some price imbalances it left out on the rush to the upside. The Fair Value Gap highlighted by that triangle is best visible from the 5 Min Chart to see where the idea is coming from. Let's Play a Game, If I'm Right, You Follow... deal 🤝 Enjoy 😉
UShort
by XeroxFTC
NFP Possible opportunity and trading setupsToday's NFP print is coming in 2h and 30m, trading plan following. In the last couple of days we got higher Labor data with Jobless claims, Jolts data printing way better than market expectations, and these 2 components fit into the NFP this might mean that on the aggregate the 185K US NFP estimation might be slightly higher than that. Anyways, let's move into the NFP now. The bulk of market participants are between 150-200K and for exaggerated movements, we should look for anything below 150K for US$ shorting or 200K for US$ long. As a second layer of risk, we can use 125K to the downside and 225K to the upside which will give us the ultimate trading conviction. US NFP printing higher than 200K (Risk x1) US NFP printing higher than 225K (Risk x2) EURUSD - GBPUSD - GOLD - BTC - SNP - NDX 🔽 USDJPY 🔼 US NFP printing lower than 150K (Risk x1) US NFP printing lower than 125K (Risk x2) NZDUSD - AUDUSD - GOLD - BTC - SNP - NDX 🔼 -Extra notes- Average Hourly Earnings (YoY) and Unemployment rate need to be considered as a second layer of conviction into this trade setup... They are similarly essential and if they give a very different picture than NFP then we should be considering this in our analysis and either deduct any risk from our positions or even close our positions after all. Average hourly earnings YoY have a previous Result of 4.6% and an estimation of 4.3% above 4.4% or below 4.2%. The vast majority of the analysts will be surprised by a result of 4.2% and below or 4.4% and above. The US Unemployment rate has a previous result of 3.5% and an estimation forecast of 3.6%. The vast majority of the analysts will be surprised with a result of 3.4% and below and 3.7% or above. Consider the above as possible conflicting factors or boosting factors to the NFP result, also don't forget that the Unemployment rate lower is US$ hawkish, and the Unemployment rate higher is US$ dovish.
OANDA:XAUUSD
by Investing_Bridge
GBP/JPY NFP 03- 04/02/2023 Possible drop too 155.500 to see if the market will break or pull, considering there is nfp new tonight expecting the drop to continute to 149.000 to wick that demand zone and continue bullish.... banks will take out buy orders at 155.500 stop hunt the orders/ I personally think tonight will have a lot of manipulations for people to buy and get stopped out till NFP news comes out with a finally bearish wick to 149.000 as done previously before the bullish movement let me know what you think .. good luck tonight lets get it $$$$
by BullseyeForex
4