NFP Trades – Gold & Euro – Bullish Positions

 NFP is always causing volatility and impressive swings, therefore, I’ve decided to make a quick post according to the real-time structures position.

Although jobs in the private sector delivered a green outcome, this NFP is looking “dodgy”, with less jobs expected to be added.

The Unemployment Rate and Average Hourly Earnings are supposed to come out higher but to be honest, even if one of them is red, it’s still neutral for the greenback.

The main focus is on the Average Hourly Earnings and that could disappoint indeed conducting a sell-off of the USD.

Technically, DXY (dollar index) is looking as if the 1^st leg on the up-side is complete and that it would need a corrective pattern before running higher. What else would be better than the good old NFP data?

This would represent the correction of the previously posted “Bull Riding – Rodeo Trading – Intraday Market Orders” article.

FED chair Powell is speaking today as well and of course it’s just a speech, not expecting any hikes to the signaled or drastic hawkish sentiment to occur, especially with the fundamental uncertainty present now.

DXY – 2H Chart (picture):

DXY – 2H Interactive Chart:

NFP Verdict:

• Mixed data and Unemployment or Wages disappointing, resulting in a bearish USD

NFP Trades & Positions

EUR/USD – 2H Chart (picture):

 EUR/USD – 2H Interactive Chart:

EUR/USD – BUY Position

• Entry @ 1.2210 with SL @ 1.2155 and with TP @ 1.2340

XAU/USD – 2H Chart (picture):

 XAU/USD – 2H Interactive Chart:

XAU/USD – BUY Position

• Entry @ 1320.00 with SL @ 1310.00 and with TP @ 1345.00

Many pips ahead!