NFP Preview USD/JPY, EUR/USD, GOLD
We approach US NFP this month with USD very strong at 98 on the Dollar index. Most of the USD strength is on the back of EUR/USD selling which is at the key 1.10 level ahead of the US Jobs number.
Forecast at 400k the cleanest pair to trade is USD/JPY which will go up if strong or down if weak. But given we in uptrend on USD if the number is weak but doesn't change the FED raising rates then the dip should be bought back up on USD/JPY.
Another way of playing NFP is gold with the market long Gold on the war and so we vulnerable to a sell off if the NFP numbers strong. This could combine with easing fears and FOMC focus to help gold fall back below $1900.
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Forecast at 400k the cleanest pair to trade is USD/JPY which will go up if strong or down if weak. But given we in uptrend on USD if the number is weak but doesn't change the FED raising rates then the dip should be bought back up on USD/JPY.
Another way of playing NFP is gold with the market long Gold on the war and so we vulnerable to a sell off if the NFP numbers strong. This could combine with easing fears and FOMC focus to help gold fall back below $1900.
easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration.
“Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party."
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