GBPUSD: Range ahead of NFPSee chart.
Support @ 1.2870
Resistance @ 1.30230
Can play the range ahead of tonight NFP release, as the market is likely to move sideways before the announcement.
Nonfarmpayroll
EURUSD is in a delicate situation, NFP Week H4 in the following chart, you can frame the performance of EURUSD from post Brexit collapse on, with Fibonacci retracements which show that the counter-movement has been pushed up to exactly half of the last week's collapse
The resistance at 1,116 rejected down the pair, the listing of which is in a narrow consolidation phase enclosed between the moving average and the 20 to 60 periods.
The cut to the upside or downside of one of these two levels has the following objectives R / S (1,105, 1,110, 1,113, 1,116, 1,118, 1,123). The latest uptrend in euro-dollar could then finish within 1.11 share, ready to retrace within these levels, at least in the first part of the week.
The wait for the Non Farm Payrolls and less news from the EU front-UK will likely attract the attention from Wednesday onwards
Positive data in the US could give confirmation of the new downtrend undertaken by euro-dollar in the weekly chart, and then bring it back towards the accumulation zone around the 23.6, the 1.09 threshold.
update on my 1st analysis of the yearToday's closing price will be key to decide for monday , as price needs to close over the trend or below the trend line to draw investors in. bear in mind the fundamentals today should give you a MAAAASSIVE picture. (NONFARM PAYROLL)
USD/JPY Farm Roll PreviewYen long positions on the futures market are at record highs and historically any high risk event to the dollar supports the Yen as investors seek to protect themselves from uncertainty.
Price rejecting the 50% fib level and an interesting candle formation lead to a reasonable conclusion that further downside gains are to be made this week.
Poor US news will open up a re-test of last weeks highs where as a good non farm and positive US news have scope to break the current range towards the 100% fib level.
Beware that price can break up on the several pieces of high impact US news if they are positive however the fact that it's an 'if' means that a short position which is backed by price action and investor sentiment in the futures market is likely to yield a high probability of profits.
GBP/USD High Impact News Week PreviewUS news dominates this week and therefore waiting for how price reacts at key levels is key to success.
At present price has rejected new lows and is hinting at a retracement which will likely be to the 50% fib level.
With that said a continuation of the downward trend cannot be ruled out with Yellen due to speak Tuesday afternoon and Carney Wednesday morning, both events more then likely to influence price action.
As with most non farm weeks price is likely to consolidate around a key price level pending the Friday release, this will likely be the 50% fib level.
A break above or below this level has been outlined, this pair is looking for direction with the Brexit decision looming and the possibility of higher US interest rates and paralysis of the BOE due to Brexit all making for an interesting mix of risk factors for investors.
Trading around breaks of key levels is likely to yield the best results, use news releases to your advantage and wait for clear direction from price action before deciding on a bias as this pair is likely to be temperamental this week,
Dollar strenght underway? DXY Daily AB=CD + Trendline support.As the title describes.
Price got a bullish AB=CD pattern completion.
We got a nice demand area and trendline support.
Non Farm Payroll coming out today, so this is my toughts.
Holding a few long dollar positions going into the report based on this analysis.
GBPUSD - targeting 1.48000 (news permitting)My next bullish target is 1.48000, given we see the right market conditions.
I'm anticipating an overnight retracement and possible consolidation, followed by a reversal within the green zone drawn around the 1.4520 area, with a rally up to 1.48000.
EUR/USD – NFP SHORTBearish Channel – EU hit 3. top - still bearish trend
Awaiting good/better data for the USD.
Anticipating the destabilization of Europe with its currency EUR.
SL above first top in the bearish channel
EP @ 1.06838
TP @ 1.0750 - 1.0650 - 1.0500
RRR 1.77
HYG Leading SPY Lower?Junk bonds are typically just that - junk. But, the iShares High Yield Corporate has been one of those crowded trades that just do not die.
After witnessing the immaculate short squeeze from 1,864, the SPX staged an impressive rebound. But as I mentioned earlier today (on my InvestFeed - link below), the SPY is looking weak, and the ADX, which measures trend strength, is beginning to fall.
This is interesting because HYG tends to flow with the SPX (and SPY). As equities had a sharp correction so does high-yield The opposite is also true, and junk bonds rallied along side equities. SPY also acts more "violently" when prices diverge greatly.
According to ETF Daily News, roughly $10.7 billion was injected into U.S. equity ETFs last month, while $8.3 billion of inflows were seen in U.S. corporate bond ETFs - the largest monthly inflow recorded. HYG took in just over $5.5 billion.
This is important because today's trader shows the epitome of herd behavior: all cramming into a few trade ideas. So, when that idea doesn't material, traders flee and the response is not exactly orderly.
Price action is on a few minor support levels, but there is bearish EMA, RSI and DMI momentum. ADX looks to be moving upwards supporting negative price action.
If the SPY breaks down lower (I'm expecting mid-160k NFP tomorrow), this could spell trouble for HYG.
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EURUSD SKACAPITAL NFP EURUSD Non farm pay rolls analysis. If the NFP is negative for the USD we would see bullish momentum to our upside target of 1.12500 (possibly higher). If NFP is positive for USD then we can see movement down to our targets of 1.1000-1.09500.
We have our safety and management levels in place which would help us determine where to enter the market. Trading the news is a gamble therefore we have multiple scenarios i place to manage our existing trades.
Bullish and Bearish potential setups on CableI have highlighted daily support areas which are confluent with Fibonacci levels. I lean towards the Bearish side, however I would not discount the Bullish targets on screen, especially with announcements from the US today.
The bullish or bearish move will depend largely on price action and candlestick confirmation for me.
Another reason for leaning to the bearish side is trend-continuation. Here the overall Bear trend is in full force and I tend to lean towards trading with the trend as much as possible.
This is an example of some very effective yet basic technical analysis which is tested and proven to work time and time again.
Please leave any comments should you wish to do so.
Happy trading and I hope you all have a great weekend!
Barry the Forex Trader
U.S. Non-Farm Employment data on USD/JPYThis announcement takes precedence over other forms of technical analysis: candlestick patterns, pivot points, etc.
Instead, time leading up to the announcement ( minutes before ) & the larger trend becomes critical.
During this period, other forms of technical analysis (Pivot Points & Elliott Waves) take a backseat.
USDCAD: Daily Gartley PatternUSDCAD VIDEO (www.youtube.com) Obviously I'll be playing the sidelines today due to the Non-Farm release, but for you longer term traders, we've broken past our B leg which means it's time to pay attention to the bearish Gartley.
This particular pattern comes in at a very nice level of structure (looking left) where price consolidated in the past before a markdown. This doesn't mean that the level will hold again, we never know in trading, but it does show that the market has respected this level in the past, and as a pattern trader all you should be looking for is a brief pull back.
Good luck for anyone getting involved in this one.
Akil Stokes
Chief Currency Analyst at www.TradeEmpowered.com
Akil@Tradeempowered.com /@AkilStokesRTM /
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