NFP Day is Here

The major block to compassion is the judgment in our minds. Judgment is the mind’s primary tool of separation. ~┬áDiane Berke

Good morning. Dollar holds onto gains as the euro is under pressure, declining towards $1.300 support. Not much is expected to happen until later today when the NFP data will be released.

USD Index

A potential EURUSD breakdown below 1.300 should push the dollar index to 80.50 and maybe 81, where the next resistance zone is formed.

USD Index Daily 4-6-2012

USD Index Daily 4-6-2012

S&P500

Correction continues but support formed by the bottom around 1390 still holds. I remain bullish, waiting for today’s market reaction to jobs report

SPX Daily 4-6-2012

SPX Daily 4-6-2012

EURUSD

1.300 is in focus and the question is whether it a bounce is likely. I, for one, don’t want to be on buyers’ side without seeing a reversal candle first, such as the one formed on February 16.

EURUSD Chart Daily 4-6-2012

EURUSD Chart Daily 4-6-2012

AUDJPY

Yesterday’s candle suggests that a recovery is due, so it seems a good idea to look for buying opportunities on strength above 85 (former support zone)

AUDJPY Chart Daily 4-6-2012

AUDJPY Chart Daily 4-6-2012

USDJPY

82 is intact after several tests, but bounces are weak; it’s probably best to wait for it to exit the range

USDJPY chart Daily 4-6-2012

USDJPY chart Daily 4-6-2012

EURAUD

I was expecting the recovery to continue towards 1.3000 but the sell-off is too strong these days. After yesterday’s drop, it’s probably best to look for more selling opportunities

EURAUD Chart Daily 4-6-2012

EURAUD Chart Daily 4-6-2012

Have a great day!

2 thoughts on “NFP Day is Here

  1. fx365

    Hi Liviu,

    Do you think it's a good idea to trade today as London and NY are closed? Aren't we likely to get false PA movements, especially after the NFP number is out?

    Would appreciate your advice. ;)

    Reply

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