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Nfp

Non Farm Employment Change Prep7th July DXY: could retest 103.50, likely to return to range between 102.80 and 103.40 NZDUSD: Sell 0.6115 SL 20 TP 60 (Good NFP) AUDUSD: Sell 0.6620 SL 20 TP 60 (early entry, slightly higher risk) USDJPY: Sell 142.60 SL 30 TP 90 (DXY weakness) GBPUSD: Buy 1.2710 SL 25 TP 60 (DXY weakness) EURUSD: Sell 1.08.40 SL 20 TP 60 (DXY strength) USDCHF: Could trade up to 0.90 resistance USDCAD: Buy 1.34 SL 30 TP 55 (DXY strength) GOLD: look to break 1910 to get to 1896
TVC:DXY
by JinDao_Tai
2
GOLD NEUTRAL We have took profit and now we await the next moveDear Ziilllaatraders, We took some big profits again today, I bet you guys are content. But tomorrow we will have the monthly NFP news coming out again. MY ADVICE stay out and watch how the game is going to be played. Because like every NFP, the price is going to swing all sides. So one other important rule of trading is to not be greedy, we already made big profits till now look at the results you are booking instead of always wanting to trade. This is of course my advice. Let me know guys what you think. Leave a like, comment, and follow for more. STAY HEALTHY AND WEALTHY! Greetings, Ziilllaatrades
FOREXCOM:XAUUSD
by ZILATRADES
FOREX's NFP PreviewThe US dollar outlook improved further on the back of a much stronger ADP payrolls report and an above-forecast ISM services PMI reading, all adding to bets that the Fed will hike interest rates at least one more time. The resulting sell-off in risk assets means the AUD/USD outlook has been dealt a double or even triple whammy. Will we now see another strong US non-farm payrolls report and further dollar strength? It looks that way, as we will explain in this NFP preview article. Dollar and yields jump as stocks drop on Fed hike bets The US dollar, already finding some strength from the hawkish FOMC minutes, got another shot in the arm as both the ADP private sector payrolls report and the ISM survey beat expectations. The dollar bears who were looking for some substantial downside surprise in data, were left disappointed. The dollar's reaction was a swift one, as it rallied across the board, causing the major FX pairs like the AUD/USD and EUR/USD to fall. Meanwhile, bond yields rose further, hurting stocks, gold, and most other risk-assets… While profit-taking may limit the dollar’s upside, traders will be re-assessing the situation after the official US non-farm jobs report is published on Friday. NFP Preview: ADP, ISM services PMI point to a strong jobs report On Monday, we saw the ISM manufacturing PMI come in well below expectations again (41.8 vs. 44.0) as activity contracted at a faster pace in June compared to May. It dropped to its lowest level since May 2020, at the height of the pandemic. What’s more, employment in the sector contracted by 3.3 points from 51.4 to 48.1, which is not great news. But the ISM services PMI (53.9 vs. 50.3 last) more than made up for that, with employment in the sector rising by a good 3.9 points to 53.1 from 49.2. This is clearly good news for those looking for another NFP beat. But that was nothing compared to how easily the ADP report trounced expectations. ADP private payroll jumped by 497K, up from 278K and well above the 228K forecast, reinforcing the Fed’s view that the strong labour market could help prevent a hard landing in the economy. In a nutshell So, while the manufacturing sector activity has been weakening, the services PMI has remained above the expansion level of 50.0 for the past four months. Now that we have seen fresh strength come into the services sector despite high interest rates, this should keep the doves at the FOMC quiet for another couple of months at least. Clearly, the jobs market remains very strong, as indicated by the ADP report. What to expect from the NFP report? As mentioned, this (and last) week’s data releases were mostly positive, pointing to an economy that is continuing to defy expectations (although the manufacturing PMI indicated otherwise). The jobs market has been particularly strong with nonfarm payrolls data beating expectations in the last 14 months in a row! Will that trend continue? If it does, it will mean interest rates will likely rise and remain higher for longer. This could benefit the US dollar in the short-term, even if high rates for longer might be something that could ultimately hurt the economy at some later point in time. Headline jobs growth is expected to have risen by 224,000 in June, causing the unemployment rate to drop back to 3.6% after it unexpectedly rose to 3.7% in the previous month. Average hourly earnings, a key measure of inflation, are expected to have risen by 0.3% month-over-month. If the jobs report beats, then we favour looking for bearish setups against commodity dollars, like the AUD/USD, in light of the big risk-off trade that was triggered by the release of hawkish FOMC minutes. Speaking of… AUD/USD outlook: NFP trade idea As well rising expectations over further Fed rate hikes, the AUD/USD outlook has been further blighted by China, Australia’s largest trading partner. This year we have consistently seen weakness in Chinese stock and currency markets, reflecting investor concerns about the health of the world’s second largest economy. While there has been some improvement in data lately, it hasn’t been enough to lift sentiment towards Chinese markets yet. This is an additional factor weighing on the Aussie. Domestically, Australia’s monthly inflation data came in far below expectations at 5.8% a couple of weeks ago and as it turned out, the RBA decided to hold their cash rate at 4.1%, wrongfooting bets of a 25bp hike. While the RBA thinks that inflation remains “too high” and “further tightening may be required,” suggesting that the pause doesn’t necessarily mean the peak, the markets are not so sure. Global inflation is likely to come down more rapidly moving forward because of calendar effects and as economic activity continues dwindle amid high interest rates and soaring cost of living around the world. Add China to the mix, it looks like the RBA is done with rate hikes. This should keep the AUD undermined, all else being equal. AUD/USD technical analysis The AUD/USD managed to claw back some of its losses in the second half of last week, after falling sharply in the week prior. The Aussie added mild gains at the start of this week, before turning lower once more on the back of US data. It turned lower after testing its 200-day moving average and resistance around 0.6670 to 0.6700. The lower lows and lower highs thus remain intact. The bears will want to see continued weakness and a drop towards 0.6580 initially, potentially ahead of the May low of 0.6458 next. The bulls will want to see a confirmed bullish reversal before looking for long setups. For example, a clean break above the aforementioned 0.6670-0.6700 resistance zone.  
by FOREXcom
EURUSD SHORT SETUP M15 + H1 BEFORE NFPOn EURUSD, we have a bearish setup with the price currently at the lower end of a channel. I expect a retracement around the 1.0876 area, where we have a significant gap on the H1 timeframe within a supply zone. Before entering, I will wait for price confirmation on both the M15 and H1 charts. Then, I will assess the short entry with a target at 1.0830. It would be fantastic if you could share your opinion and leave a like to support our work. Greetings and have a great day of trading from Nicola, CEO of Forex48 Trading Academy.
Short
by Forex48_TradingAcademy
✏️ XAUUSD : Trade based on NFP As you can see, the price has entered the supply zine in $1974 to $1985, and according to the reaction on the chart, the possibility of falling from this level is high, considering that today we will have the NFP statistics, there is a possibility of accelerating this process. But be careful that the volatility of this news is very high and trading based on it can bring you a high risk, so be careful with your personal trades ! The second most important supply range is from 2001$ to 2015$! Don't Forghet To Push The Boost (Like) Button and Follow Me for More ! Best Regards , Arman Shaban
OANDA:XAUUSDShort
by ArmanShabanTrading
46
Positive NFP Data for the USDNFP May 2023 - 339,000 jobs have been created. While this sounds like a good thing, it’s also a bad thing. The entire point of the Federal Reserve hiking interest rates was to ‘slow down inflation’ by making people lose their jobs, in turn leaving them with less disposable income to flood back into the economy. What this NFP data shows is that the current interest rate hikes aren’t working, so this will now be another excuse for the Federal Reserve (really the US government) to be more aggressive with rate hikes, which will end up destroying the economy. This’ll create higher unemployment rates, higher mortgage rates (people default & lose their homes) & higher poverty. This’ll have a knock on effect on the global economy such as the U.K. World Economic Forum - “You Will Own Nothing & Be Happy”
TVC:DXYEducation
by BA_Investments
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