Pre-NFP Price Action explained by professional Forex trading experts the “Pre-NFP Price Action” FX trading team.
Pre-NFP Price Action
The next few trading days bring some interesting USD drivers to the fray, with tomorrow’s release of November Non-Farm Payrolls and next week’s widely-expected interest rate hike out of the Federal Reserve. In this webinar, we look at price action setups across the U.S. Dollar ahead of this pick-up in activity.
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– In this webinar, we looked at price action setups across the U.S. Dollar ahead of tomorrow’s release of November Non-Farm Payrolls and next week’s widely-expected interest rate hike out of the Federal Reserve. The U.S. Dollar has started to show a bit of strength as we near these drivers, and this opens up a number of interesting possibilities in major currency pairs.
– We first looked at longer-term trajectory of USD. 2017 has been, without a doubt, a nasty year for Dollar-bulls. But – this may just be a corrective move of the larger, longer-term bullish trend that started in 2014 and peaked on the second trading day of this year (shown below). The sell-off in the first nine months of the year was a 50% retracement of that move, so there could be a compelling case for USD-strength next year. This is relevant because if others are looking at the matter from a similar vantage point, it could help to impact near-term price action, and this is something deserving of attention over the next few trading days as the Fed’s plans for rate hikes in 2018 comes closer into focus.
Pre-NFP Price Action Conclusion
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