Euro / U.S. DollarShort
EURUSD Scalp: Labor Data in Focus
Buckle up traders, this week's volatility is coming straight from the US labor market!
We've got a data deluge headed our way:
• JOLTs Job Openings (Wednesday)
• Initial Jobless Claims (Thursday)
• Non-Farm Payrolls (Friday)
Previous NFP numbers hinted at a softening labor market, fueling the debate: Will the Fed go for a 25 or 50 bps cut? Right now, it's leaning 25 bps, but softer labor data could swing things toward 50.
Here's the play:
Strong data = Dollar 💪, EURUSD could break 1.1000. Time to short!
Weak data = Dollar 📉, bigger cut likely, EURUSD could rally up.
My take? Friday's Personal Income data flashed an inflation warning, giving the dollar a boost. If this keeps up, I'm eyeing a short scalp on EURUSD, targeting that 1.1000 level. But I'll be patient, waiting for enough volatility to jump in.
We've got a data deluge headed our way:
• JOLTs Job Openings (Wednesday)
• Initial Jobless Claims (Thursday)
• Non-Farm Payrolls (Friday)
Previous NFP numbers hinted at a softening labor market, fueling the debate: Will the Fed go for a 25 or 50 bps cut? Right now, it's leaning 25 bps, but softer labor data could swing things toward 50.
Here's the play:
Strong data = Dollar 💪, EURUSD could break 1.1000. Time to short!
Weak data = Dollar 📉, bigger cut likely, EURUSD could rally up.
My take? Friday's Personal Income data flashed an inflation warning, giving the dollar a boost. If this keeps up, I'm eyeing a short scalp on EURUSD, targeting that 1.1000 level. But I'll be patient, waiting for enough volatility to jump in.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.