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EURUSD extremely speculative sighting +ve NFP & Corona casesFor EURUSD These are the 2 main deciding factors this week and have been proven to be equally weighted: The Corona Outbreak and NFP. Looking at the scenario, EURUSD is very speculative as of now as the US is lagging behind running and releasing test kits, which in turn can increase the number of virus cases hurting the safe-haven dollar. While Coronavirus headlines set to dominate trading, with a short interval for the ISM Manufacturing Purchasing Managers' Index. Other than CoronaVirus, this week NFP will also be a major indicator moving the markets as Economists expect a gain of 175,000 jobs in February after a leap in January. The pair is in in the consolidation as Italy loses school amidst Corona fears, after registering 100 deaths and 300 infection cases, as well as other countries, has seen an increased number of cases. (Blue channel) Meanwhile, Europe's overall condition is worse than that of the US, can send the pair even higher and H4 showing signs of the rally, supported by slashing borrowing costs by 50 basis points on Tuesday, (The Fed's rate is at 1-1.25%) The pair see a Res @ 1.1180 and the year high @ 1.1215 -------------------------------------------- Follow the channel for more strong and in-depth analysis like this. Share the love with your friends and let me what do you think, Leave a comment :) For live trading signals trials Telegram - Tradingmoore
by TREND-KEY
It's a long time i am not posting analysis.. but i am back.BUYEUI don't remember last time i posted one of my analysis. It's passed so much time... but i think it's time to get back and share my ideas. So, here you are a fresh signal before the NFP. EURUSD has made a consecutively 4 bear bars on weekly charts. History is clear, usually when EU is too much oversold... pullback is coming hard. Next, we are on important pullback zone. 1.100 is an important price, and looking on H1 tf i can clearly see a MACD divergence, that can anticipate a rally up. I suggest you to wait eu to come back to 1.10100 again before buying, or enter now with small size and buy again later. The target are marked with red lines, also the possible retracement. What do you think guys? Hope you appreciate :) I'm back :) Simo
Long
by SaliJournal
1
Excellent figures on NFP as a reason to buy the dollarAlright, so today will be published statistics on the US labor market. In this review we will remind its content, talk about how to respond to a particular indicator, as well as tell our expectations. The block of statistical data on the US labor market includes a number of other significant indicators besides an NFP (non-farm payrolls) - the number of new jobs created outside agriculture. For previous data and forecasts, see table below. The block of statistical data Pre Forecast 15:30 USA 3 Number of new jobs created outside of agriculture 134K 190K 15:30 USA 3 Average hourly wage (m/m) 0.3% 0.3% 15:30 USA 3 Unemployment rate 3.7% 3.7% How to respond to a particular indicator and why? Growth in employment generation created outside the agricultural sector above forecasts - is a relevant reason for buying the dollar because it is a strong signal that the economy is in good shape. The average hourly wage growth is also a reason for buying the dollar. But the logic here is slightly different. The fact is that wage growth is a signal to the Fed that inflationary pressure in the economy is growing, which means that the Central Bank must respond to this, for instance, by raising interest rates. The interest rate hike is the cause for the growth of the dollar, which is becoming more attractive against other currencies. The decline in unemployment is a positive signal for the dollar since it indicates an improvement of the economic performance of the country. But it is worth warning about the existence of the so-called natural level of unemployment, to fall below which is undesirable. So, unemployment in the United States is already somewhat below this mark, so a further decline is no longer desirable. In total, the increase of the NFP with the average wage growth - a clear signal in favor of buying the dollar. If the data is mixed (for example, the NFP is better than expected, and the wage growth is worse than in forecasts), the reaction may be unpredictable. Let’s remind that we await the NFP to be much higher than outlooks - somewhere around 250K. Motivation - a great shape of the US economy and the labor market, Trump's tax reform, the end of the hurricane season and consequently the sharp increase in labor demand linked with the end of the pause due to hurricanes, as well as simply excellent data from ADP, published on Wednesday. Accordingly, with such expectations, the most probable scenario is the dollar growth in the foreign exchange market. Taking into account that yesterday the dollar was heavily sold out, there is a good opportunity to buy it cheaper, which we recommend using.
TVC:DXYLong
by Trade24Fx
EURUSD at 20 day Exponential Moving Average support.The 20 day moving average is a strong point which plays big part in how the future trend is set and detected. Setting up for a trade, short term selling from under 1.23 to 1.2270 may play a good trade short term trade, below it is stronger support directly to the 1.2200/1.2190 trend line support where more buyers are emerging. Be careful and follow also everything connected with news and don't forget next week is NFP's week. -------------------------------------------------------------------------------------------------------- Trading carries a high level of risk to your capital and may result in losses that exceed your initial deposit. Supplied information is not advice.
by TheTrade_Academ
NFP WE ARE EXPECTING 150-165 NUMBER = BAD FOR DXYNFP WITH IN 40 MINS Median NFP estimate 190k (188k private) March 98K Highest estimate 281k (JP Morgan) Lowest estimate 145k ( Presige Economics) Average estimate 191.7k AS ADP DATA AND OTHER DATAS WE ARE EXPECTING 150-165 JOBS NUMBER IN UPCOMING DATA IF DATA COMES LIKE THIS WE CAN SEE A DOWN WORD MOVE IN DXY MAY B TOUCH 98.3-98.5 LEVEL. BUT UPCOMING ELECTION IS MORE IMPORTANT THEN TODAY'S NFP. SO TRADE WITH SMALL LOT AND BETTER STAY AWAY ON WEEKEND. STAY WITH US FOR MORE UPDATE AND STUDIES
TVC:DXY
by Salmanmemon786