July’s NFP data exceeded the consensus but as expected the positive reaction of USD did not last a long time. Considering how often Fed mentioned that they were not worried about employment and reaching the inflation target was their priority before July’s release limited USD movements. So, in ForexSQ forex team we are asking ourselves: Should we expect anything different from August numbers?EUR/USD
Looking at the EUR/USD daily graph we see that the uptrend that started on 25th of July ended on August 18th. 50% Fibo retracement of that move is around 1.1155/60 and as the pair continues to stay below that level 1.11 area (Fibo 61.8% retracement) and 1.1040 (Fibo %78.6 retracement) can be targeted with the help of positive NFP numbers.
GBP/USD
GBP/USD has been staying in a consolidation channel for the past two months since Brexit. Positive NFP numbers may force the pair to test 1.28 level.
USD/JPY
USD/JPY is staying close to 50% Fibo retracement of its last downward movement around 103.40 area.
XAU/USD
The divergence XAU/USD showed on daily graph was followed with a break of 1335 support where Fibo 23.6% of the latest upward movement is located.
Read complete analysis at [URL deleted]
Looking at the EUR/USD daily graph we see that the uptrend that started on 25th of July ended on August 18th. 50% Fibo retracement of that move is around 1.1155/60 and as the pair continues to stay below that level 1.11 area (Fibo 61.8% retracement) and 1.1040 (Fibo %78.6 retracement) can be targeted with the help of positive NFP numbers.
GBP/USD
GBP/USD has been staying in a consolidation channel for the past two months since Brexit. Positive NFP numbers may force the pair to test 1.28 level.
USD/JPY
USD/JPY is staying close to 50% Fibo retracement of its last downward movement around 103.40 area.
XAU/USD
The divergence XAU/USD showed on daily graph was followed with a break of 1335 support where Fibo 23.6% of the latest upward movement is located.
Read complete analysis at [URL deleted]
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