Trading the double bottom pattern involves identifying a bullish reversal pattern on a price chart and making trading decisions based on the pattern's confirmation. Here's a step-by-step guide on how to trade the double bottom pattern: 1. **Identify the Double Bottom Pattern**: A double bottom pattern appears on a price chart after a downtrend and consists of...
NEWCONNECT:NFP We can see $2 - $5 easy money in next 1/3 months
US Labor Market Data Preview - Friday, April 5, 2024 To analyze the market's reaction to today's NFP data, it's crucial to review past market events. The Federal Reserve needs two conditions to ease interest rates: 1) Continued downtrend in inflation 2) Weakening labor market. Therefore, today's NFP data is the most critical news release. Previous NFP...
The euro continues to stumble and is down for a fourth straight day. In the European session, EUR/USD is trading at 1.0653, down 0.67%. The euro has fallen 1.7% this week as the US dollar continues to flex its muscles against the major currencies. The European Central Bank maintained the deposit rate at 4% for a fifth straight time on Thursday, as expected....
Now is a very good time to get into USDJPY long positions & target the $153 price point. Offering a good 600+ PIPS profit! Bare in mind this the 1D TF, so be generous with your SL & give market breathing space.
#NFP The price is moving in an upward channel on a 1-day frame and we have a support area in green at the level of 0.8100. We have a higher stability moving average of 100 We have a contact with the minimum channel Our RSI indicator has a well reliable uptrend Entry price is 0.8933 The first goal is 1.165 The second goal is 1.47 The third goal is 1.95
Looking forward to entering Long on BCOUSD after NFP today. Am not too eager to enter, if it happens, its good. If it doesn't happen, I am fine too, since today is Friday, and I have to hold my positions over the weekends. I am used to holding trades over the weekends, however I prefer the weekdays. Therefore, when Mondays roll around, I thank God its...
Given the robust NFP figures from last week, alongside the deteriorating job market in New Zealand and evident bearish technical analysis, it appears advantageous to consider a short position on NZD/USD. The price remains below the 200-day moving average, indicating a downtrend, and has recently tested resistance at 0.60500. I am targeting a decline to 0.58800 as...
OANDA:XAUUSD Gold price’s (XAU/USD) rally pauses after refreshing all-time highs near $2,305 amid uncertainty ahead of the release of the United States Nonfarm Payrolls (NFP) data for March. The labor market data is expected to influence market expectations for the Federal Reserve (Fed) rate cuts, which financial markets are currently anticipating for...
The KOG REPORT – NFP This is our view for NFP, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile, and these events can cause aggressive swings in...
April 5th DXY: Could see higher NFP, but DXY might weaken, break 104 support, trade down to 103.70 NZDUSD: Sell 0.6035 SL 20 TP 55 (DXY strength) AUDUSD: Sell 0.6605 SL 20 TP 45 (DXY strength) USDJPY: Sell 151.80 SL 25 TP 90 (DXY weakness) GBPUSD: Buy 1.2605 SL 20 TP 70 (DXY weakness) EURUSD: Buy 1.0885 SL 25 TP 55 (DXY weakness) USDCHF: Sell 0.8990 SL 30...
Preferred direction: SELL Comment: For gold , we previously gave two setups for sell, and one of them is already in work (scenario №2) . However, against the background of the upcoming potential volatility (NFP) , as well as the short-term weakening of the US dollar , most likely, it is at the very moment of the release of data on the US labor market that...
Preferred direction: BUY Comment: The British pound also remains on the buy list. Here, the expected movement for the current NFP is the same as for the euro . Growth is expected towards the level of 1.27000 , where local resistance will occur. The target is not set above this area (quite an aggressive option). But one can consider potential sales when...
Preferred direction: BUY Comment: The setup for today's NFP remains in favor of the buyer. Most likely, the euro will update yesterday's high around the level of 1.09000 . At this level, there is an area of resistance, and most likely it is from here that we can expect a deeper correction than the one we are currently observing. Additional comments on this...
Preferred direction: BUY Comment: At the beginning of the coming week, the buy-priority for the euro remains. The previous week showed nothing in terms of volatility. The coming week is expected to be hot, and reasons for volatility can be found in the economic calendar. As before, the main target for medium-term growth is the level of 1.09000 . Scenario №1...
Technical evaluation of GOLD: Crucial resistance: 2305 - 2308 and 2330 - 2335 Crucial Support: 2265–2260 We may anticipate a significant upward move towards 2320 and 2330 if the resistance is breached.
Preferred direction: BUY Comment: The aggressive behavior of buyers of the American currency forced the prices of the main competitors of the USD to decline at the beginning of the week. This affected the euro and pound to a greater extent, but the currencies of the Pacific region also sank. Nevertheless, we continue to adhere to the buy priority in...
NFP preview: Trading S&P or GBPUSD? US Fed Chairman Jerome Powell has reiterated on multiple occasions that a tight labor market acts as a deterrent to lowering interest rates. Which is why this month's NFP data release should be interesting. This Friday's Non-Farm Payrolls (NFP) data is expected to show an addition of 200,000 new jobs. Since Feb 2023, data...