NFP at 183 expected contains massive resistance at 177, 173 and 172. From 183, that’s 6,000 and 10,000. and not enough to move the currency price. That means currency price ranges rather than breakout and volatility. Above, 226 and 247 are targets but along the way contains 200 to 214 then home free to 226 and 247, halfway is 236.
Overall, 50,000 from 183 above means currency price breakouts and volatility must be seen at 233. Below 233 then currency prices range. Below, 50,000 comes at 133. Do we see 133 against all the many supports points at 130’s. Doubtful. We could easily see an as expected forecast and range trades rather than big moves.
My forecast is NFP higher which means EUR/USD drops but quickly reverses and trades in a range. The central banks see range trades and prepared for ranging prices.
Thank respected Goncalo at fxstreet as NFP forecast plans to become regular month to month. Past forecast dating years were extremely close to perfect. Off the mark forecasts weren’t far off. Much work involved though yet nobody is doing the necessary forecast work.
EUR/USD. Big point break above 1.1920 and 1.1977. Below watch 1.1833 and 1.1817. If an as expected forecast then buy bottoms and sell tops. NFP above 233, look for EUR/USD much lower. If 130’s NFP then look for 1.1977 ish. Although I don’t see 1.1977.
GBP/USD. Above break points 1.3200 exactly and a giant break point at 1.3247 but not expected to be seen today. The way higher is located at 1.3172, 1.3184 then 1.3200. Below, 1.3105, 1.3093 and 1.3073.
AUD/USD. Above 0.7990 and 0.8004 Vs below 0.7944, 0.7939 and 0.7926.
NZD/USD signal pair to all Asia and insight to the majors. A fantastic, terrific currency pair. Above 0.7438 and 0.7477 Vs below 0.7421 and 0.7392 and 0.7382.
EUR/JPY. Above 131.14, 131.28 then the Gap to 131.89. Look for target at 131.44. Below, 130.46, 130.29 and 130.13. Look for longs at 130.13 to 130.29.
USD/JPY. This is a minor, minor currency pair. Why classified as major is because of the Inflation target, Yield curve experiment. Above 110.22 than gaps to 111.18. Should dead stop and reverse at 110.68. Below, 110.01 then 109.63 and 109.56.