NFP is tomorrow. But frankly it's happening in context of a much larger stray of pattern setups on both major and cross minor pairs that harmonize together along with other macro energetic forces.
Timing is key. We have declining strength in a major indicator harmonizing with this Head and Shoulders pattern on the daily of USD-CNH. This lines up with other setup points on Major dollar pairs such as EUR/USD and USD/CAD which are either at key inflection points or have already reversed off them. All I can say is, I've seen these combinations happen before -- it's rare and not a coincidence.
This is a good time to do a little extra risk on shorting the US Dollar -- if your stop losses are wide enough that is (tight stop losses with NFP is dangerous). This trade time frame is too large a context and combining confluence factors to justify staying out of all markets just for NFP volatility fears.
Timing is key. We have declining strength in a major indicator harmonizing with this Head and Shoulders pattern on the daily of USD-CNH. This lines up with other setup points on Major dollar pairs such as EUR/USD and USD/CAD which are either at key inflection points or have already reversed off them. All I can say is, I've seen these combinations happen before -- it's rare and not a coincidence.
This is a good time to do a little extra risk on shorting the US Dollar -- if your stop losses are wide enough that is (tight stop losses with NFP is dangerous). This trade time frame is too large a context and combining confluence factors to justify staying out of all markets just for NFP volatility fears.