NFP data upbeat expectations by far. Trend changer?
With today's NFP data out and low market volumes due to Good Friday we could expect a vibrant trading session on Monday, with stocks rallying, USD strengthening and GOLD being dumped.
We are currently trading below EMAs and unless we test 1.1820 area soon, price may fall sharply to 1.1650 followed by 1.16. Failing to find a support there we will drop like a stone to low 1.12.
From the fundamental point of view, it seems supporting this idea as well.
Share your thoughts.
We are currently trading below EMAs and unless we test 1.1820 area soon, price may fall sharply to 1.1650 followed by 1.16. Failing to find a support there we will drop like a stone to low 1.12.
From the fundamental point of view, it seems supporting this idea as well.
Share your thoughts.
Trade active:
As stated previously, we have gone to test the 1.1820 area after hitting 1.737 in a sharp reversal in spite of USA ISM data and Good Friday's NFP brilliant data. Mind that most markets are still closed due to Easter public holiday. Normal volumes and bold price movements will come on next trading sessions when all the markets will be open.
I remain cautious at the moment looking forward to see the battle for 1.16 to jump accordingly in either direction.
I remain cautious at the moment looking forward to see the battle for 1.16 to jump accordingly in either direction.