USD firm ahead of the NFP [Video]

Tomasz Wisniewski Axiory Global Ltd.

In today’s Trader’s Edge Market Briefing, Tomasz found these unique setups that we thought you’d find interesting.

The markets are getting ready for the US job market’s monthly report. Here is how major instruments on the market are trading ahead of this data:

EURUSD stays inside of the channel down formation, as long the upper line remains intact, the sell signal is on.

USDJPY remains firm staying close to long-term highs.

Gold is fighting on the long-term down trendline.

Silver climbs higher using the inverse head and shoulders pattern. The target is on 22.1 USD/oz.

WTI Oil continues the upswing after escaping from the falling wedge pattern.

Brent Oil is doing the same but with a channel down formation.

FTSE defends crucial, long-term horizontal support on the 6800 points.

DAX trying to defend the area around 12450 points, which is currently the most important horizontal support here.

Dow Jones has appetite to come back above 30k.

Author

Tomasz Wisniewski

Axiory Global Ltd.

Tomasz was born in Warsaw, Poland on 25th October, 1985.

EUR/USD holds lower ground near 1.1850 ahead of EU/ US data

EUR/USD remains in the negative territory for the fourth successive session, trading around 1.1850 in European trading on Friday. A broadly cautious market environment paired with modest US Dollar demand undermines the pair ahead of the Eurozone GDP second estimate and the critical US CPI data.

GBP/USD keeps losses around 1.3600, awaits US CPI for fresh impetus

GBP/USD holds moderate losses at around 1.3600 in the European session on Friday, though it lacks bearish conviction. The US Dollar remains supported amid softer risk tone and ahead of the US consumer inflation figures due later in the NA session on Friday.

Gold trims intraday gains to $5,000 as US inflation data loom

Gold retreats from the vicinity of the $5,000 psychological mark, though sticks to its modest intraday gains heading into the European session. Traders now look forward to the release of the US consumer inflation figures for more cues about the Fed policy path. The outlook will play a key role in influencing the near-term US Dollar price dynamics and provide some meaningful impetus to the non-yielding bullion.