USD flexes muscles ahead of the NFP [Video]

Tomasz Wisniewski Axiory Global Ltd.

In today’s Traders Edge Market Briefing, Tomasz found these amazing setups we thought you’d find interesting!

American Traders did what they love to do. They bought the dip and made another V-shape reversal. SP500 and Dow Jones are back above the major supports with handsome buy signals.

The Nasdaq on the other hand is still struggling. Here, a further drop is very probable.

The DAX is flirting with an all-time high, again.

Gold drops after a brilliant head and shoulders pattern. The drop stopped on a mid-term up trendline. This can be a good place to stop this correction.

The EURUSD drops ahead of the NFP data.

This day is important for the USDCAD as we do have labor market data from Canada and the US. The 'loonie' tries to bounce from a major long-term horizontal support.

The AUDCHF doing everything to defend the 38,2% Fibo.

The AUDUSD breaks the neckline of the H&S formation and the lower line of the triangle is possibly bearish.

Author

Tomasz Wisniewski

Axiory Global Ltd.

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

EUR/USD makes a U-turn, focus on 1.1900

EUR/USD’s recovery picks up further pace, prompting the pair to retarget the key 1.1900 barrier amid further loss of momentum in the US Dollar on Wednesday. Moving forward, investors are expected to remain focused on upcoming labour market figures and the always relevant US CPI prints on Thursday and Friday, respectively.

GBP/USD sticks to the bullish tone near 1.3660

GBP/USD maintains its solid performance on Wednesday, hovering around the 1.3660 zone as the Greenback surrenders its post-NFP bounce. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold holds on to higher ground ahead of the next catalyst

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of modest losses in the US Dollar and despite firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.