EUR/USD how the NFP data can affect the price direction?
In this post I will mention how the U.S. NFP data could affect the price direction?
- The forecasted NFP data is expected to be 600k added jobs in June, I expect the following possibilities,
1- 600k and 600k+ ( downtrend would be expected to continue and break below 1.1850 and target the 1.1750, and probably without pullbacks ).
2- 500K - 599K ( the downtrend would lose part of its momentum, pullbacks would be expected for some period of time, followed by downtrend continuation with a maximum target of 1.1800 ).
3- 499K - 500K- ( the downtrend would totally lose momentum and short positions would not be favored to be kept on hold, pull backs would be expected to take place, probably break above 1.2000 with a maximum top of 1.2050).
- IN GENERAL AS WAS MENTIONED IN MY PREVIOUS POST THE MONETARY AND FISCAL POLICIES OF ECB AND FED SUPPORT THE DOLLAR RISE, TO BREAK BELOW 1.1850 FOLLOWING THE NFP CONFIRMATION IF HAPPENS TO BE UPBEAT, ALSO IT IT WISE TO REMEMBER THE POWELL MENTIONED IN HIS LAST TESTIMONY THAT EMPLOYMENT IS PICKING UP AND THAT IS WHY IT IS MORE LIKELY TO EXPECT A PICK UP IN THE DATA RELEASE -
- THIS OUTLOOK REMAINS ONLY TILL UPCOMING NEWS AND DATA THAT MAY CHANGE THE PRICE RANGE, SO I WILL UPDATE ACCORDINGLY -
- The forecasted NFP data is expected to be 600k added jobs in June, I expect the following possibilities,
1- 600k and 600k+ ( downtrend would be expected to continue and break below 1.1850 and target the 1.1750, and probably without pullbacks ).
2- 500K - 599K ( the downtrend would lose part of its momentum, pullbacks would be expected for some period of time, followed by downtrend continuation with a maximum target of 1.1800 ).
3- 499K - 500K- ( the downtrend would totally lose momentum and short positions would not be favored to be kept on hold, pull backs would be expected to take place, probably break above 1.2000 with a maximum top of 1.2050).
- IN GENERAL AS WAS MENTIONED IN MY PREVIOUS POST THE MONETARY AND FISCAL POLICIES OF ECB AND FED SUPPORT THE DOLLAR RISE, TO BREAK BELOW 1.1850 FOLLOWING THE NFP CONFIRMATION IF HAPPENS TO BE UPBEAT, ALSO IT IT WISE TO REMEMBER THE POWELL MENTIONED IN HIS LAST TESTIMONY THAT EMPLOYMENT IS PICKING UP AND THAT IS WHY IT IS MORE LIKELY TO EXPECT A PICK UP IN THE DATA RELEASE -
- THIS OUTLOOK REMAINS ONLY TILL UPCOMING NEWS AND DATA THAT MAY CHANGE THE PRICE RANGE, SO I WILL UPDATE ACCORDINGLY -