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Nfpday

Watch how Gold drops on NFP!NFP trade ⚡️ Guys I guess you are ready to trade NFP today. Moreover you could have already notice that I’m a big fan of Gold and today’s trade is no different. I’m going to trade NFP on Gold. First observation - Gold swaying near 1550 looks quite balanced and prepared for the event. Something tells me there should be some good reaction we have to be ready to catch it! So basically my forecast of today’s NFP figure is positive surprise (above consensus of 164K) and hence negative reaction of Gold. In the very primitive but still working reasoning, strong NFP is a sign of economic expansion => hawkish Federal Reserve = > stronger Dollar 💪. The Fed made it clear it's done with rate cuts so basically fundamental bias is now to the upside. Why I think that December NFP is going to be strong: - Initial Jobless Claims: Very good December downside trend which means less and less people claim unemployment benefits in the US. - Non-Manufacturing ISM: 55.5 points vs 54 points expected. Recall also that 80% of labor force work in the services industry in the US. - Positive expectations from the signing of the trade deal between US and China. For firms it is a strong signal to increase hiring, Capex. - Unusually mild weather in December - more hiring in construction sector. The trade setup 💰 Sell XAUUSD from current levels ($1550) Take Profit - 1540.50 Stop loss: 1553.50 Risk reward ratio: 1 : 3 Please support my sh*t with likes!!! :D
FX:XAUUSDShort
by PipVision
USDCADNFP & CAD news at the same time today, this pair is lookign very intereting to look at as the news hits. As we know, institutions use news as an excuse to move price to it's intended targets where they can mitigate out of or get closer to mitigation. We have an open order just below 31975 and also imbalance we could target for entry to the upside before we see a potential long term sell off. DXY also looking like a simialr set up which I have been anticipating for some weeks now. PATIENCE - CONFIRMATION - ENTRY - PROFIT
by jedahs
ORBEX: GBPUSD, USDCHF - Another Fed Cut?, BoJo's Plan Falls FlatIn today's #marketinsights video recording I analyse #GBPUSD and #USDCHF #GBPUSD moves on: - BoJo plan optimism on Commons - BoJo plan falling flat on Good Friday agreement threat - BoJo plan creates new borders, still seen as backstop #USDCHF looking bearish on: - Weak ISM NMI - Increased chances of rate cuts - HIgher fears of recession All eyes on NFP today! Can watch live here: www.orbex.com Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice
by Orbex
EURUSD could make a crucial correction today as NFP is comingEURUSD's resistance held perfectly and we could see a huge sell off on all EUR pairs as yesterdays Interest rate decision held 0% as expected. We could see today and nice pullback, which could continue to the next week and next week is gonna be huge for EURUSD as i will be aiming and sniping targets for longterm shorts! Let's wait for crucial areas here (Red zone and daily key level on 1.13000). I will upload as soon as i get into shorts!
by ForexThief
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