Hi Traders!
The Non-Farm Payrolls announcement led to weakness in the US dollar due to a weaker than expected number.
The figure came in at 187k, which fell short of analysts' forecasted 205k, and markets have reacted strongly to the data announcement. We have a multi-chart analysis here on the 3H timeframe showing the current price action in the markets. Levels have been broken across the board on our indicators, and we could see potential trend reversals across the board.
GBPUSD
Our 20 EMA resistance was broken with momentum; however, we have found resistance at our upper Bollinger band around 1.27800. As long as the market stays above the 20 EMA, there may be another push towards the upper band to see if there is a possibility for continuation to the upside.
EURUSD
Our 20 EMA resistance was broken with momentum, and the upper band Bollinger resistance just above the 1.10100 level was also broken, which tells us that bullish momentum is currently very high. For a continuation to the upside, our best price action signal is to stay as close to the upper band as possible.
USDJPY
Our 20 EMA support was broken with momentum, the lower band Bollinger support around 142.00 was also broken, and we are currently back under the 142 handle. USDJPY is looking very weak at the moment, and we could potentially go back to 140 if we continue to stay below the 20 EMA.
Please do not forget to like, comment, and follow, as your support greatly helps.
Thank you for your support.
BluetonaFX
The Non-Farm Payrolls announcement led to weakness in the US dollar due to a weaker than expected number.
The figure came in at 187k, which fell short of analysts' forecasted 205k, and markets have reacted strongly to the data announcement. We have a multi-chart analysis here on the 3H timeframe showing the current price action in the markets. Levels have been broken across the board on our indicators, and we could see potential trend reversals across the board.
GBPUSD
Our 20 EMA resistance was broken with momentum; however, we have found resistance at our upper Bollinger band around 1.27800. As long as the market stays above the 20 EMA, there may be another push towards the upper band to see if there is a possibility for continuation to the upside.
EURUSD
Our 20 EMA resistance was broken with momentum, and the upper band Bollinger resistance just above the 1.10100 level was also broken, which tells us that bullish momentum is currently very high. For a continuation to the upside, our best price action signal is to stay as close to the upper band as possible.
USDJPY
Our 20 EMA support was broken with momentum, the lower band Bollinger support around 142.00 was also broken, and we are currently back under the 142 handle. USDJPY is looking very weak at the moment, and we could potentially go back to 140 if we continue to stay below the 20 EMA.
Please do not forget to like, comment, and follow, as your support greatly helps.
Thank you for your support.
BluetonaFX