🌟 [ 2 ] Pre-NFP USD Price Action Setups: EUR/USD, USD/JPY, USD/CAD [ @ ]
( 358 viewed : like : 2 comments ) The US Dollar has pulled back and there's now a key support zone in-play from the 200-day moving average. Tomorrow's NFP report is a big deal here and this is often the case with FX and macro markets as that data is one of the earliest looks that we get at the most recently completed month of business activity. As such it can drive large moves in markets, much like we saw last month when the USD bullish trend really came alive on October 4th following the release of a really strong report.
The pullback in USD has been rather light thus far, so I don't want to go in with my eggs entirely in one basket. Going along with that light pullback in the USD has been a similar pullback in EUR/USD, with the pair testing the key resistance zone at 1.0862-1.0872.
For USD-weakness scenarios, which I think would need a weak NFP report tomorrow, I'm cancelling out GBP/USD as price action there has been pitiful on the long side. USD/CAD, however, could present some attractive reversal potential given where we've seen price starting to show resistance.
Also of note is USD/JPY which is putting in even more tests of the 151.95 level.
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[ 2D ] Pre-NFP USD Price Action Setups: EUR/USD, USD/JPY, USD/CAD Price [1]
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Pre-NFP USD Price Action Setups: EUR/USD, USD/JPY, USD/CAD
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