Hi Traders!
The Nonfarm Payroll (NFP) announcement came in at 205K, which was weaker than the expected number of 225K, and the markets have reacted quite strongly to the news. This could be a possible reversal of the bullish trend we have seen for the US dollar, and it will be very interesting to see what the Federal Reserve and other finance officials say about this.
On both charts below, we can see the stark contrast in price action between EURUSD and USDJPY. Both products on the 1H chart had a trendline break with huge momentum; we have highlighted this on the volume indicator. EURUSD is now extremely bullish and is targeting the psychological level of 1.10000. USDJPY is now bearish, and we are now looking at a possible break below the 142 level and even 140.
This all depends on what the Federal Reserve says in reaction to the weak data and if they hike interest rates at their next interest rate decision announcement.
Please do not forget to like, comment and follow.
Thank you for your support.
BluetonaFX
The Nonfarm Payroll (NFP) announcement came in at 205K, which was weaker than the expected number of 225K, and the markets have reacted quite strongly to the news. This could be a possible reversal of the bullish trend we have seen for the US dollar, and it will be very interesting to see what the Federal Reserve and other finance officials say about this.
On both charts below, we can see the stark contrast in price action between EURUSD and USDJPY. Both products on the 1H chart had a trendline break with huge momentum; we have highlighted this on the volume indicator. EURUSD is now extremely bullish and is targeting the psychological level of 1.10000. USDJPY is now bearish, and we are now looking at a possible break below the 142 level and even 140.
This all depends on what the Federal Reserve says in reaction to the weak data and if they hike interest rates at their next interest rate decision announcement.
Please do not forget to like, comment and follow.
Thank you for your support.
BluetonaFX
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*NFP announcement came in at 209K* Please ignore typo above
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