Post NFP…Will they Bounce ?

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So the figure is out and whilst the headline 160 000 jobs was below expectations other variables such as Average Hourly Earnings was slightly better.

Some key levels now exist on EURUSD , AUDUSD and NZDUSD. As they are correlated pairs its interesting to watch each carefully as a break or bounce on one could be the impetus for others to follow and determine whether USD weakens or Strengthens.

EUR/USD Daily:
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EURUSD watch for either a bounce off the red zone, otherwise if it breaks into the red zone will look to short below 1.13450 as it signals for price to head towards the lower end of the Channel.

AUD/USD Weekly:
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AUDUSD so close to 50% retracement at 0.73300 with Kumo Cloud and Horizontal Support around these same levels. After such a big sell off I’m favouring a bounce here ( dead cat or not ? )

NZD/USD Weekly:
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NZDUSD similar to Aussie. Small risk for potential bigger reward. Looking for a bounce on this pair also.

Do you see opportunity trading Forex post NFP with Vantage FX? Take advantage on your own instant $50,000 Forex demo account.

Arthur Drakopoulos – @VantageFX

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