Fundamental trading have become one of the most used trading strategies second to Technical Trading strategies which has boosted a lot of traders as few have mastered to trade Fundamentals. the NFP has become one of the most common events for the past years due high profit yields.
Today is the Non-Farm Payrolls day which traders will be looking to trade the United States dollar based on the Employment data released for the previous month. We will be looking very much on a strong dollar this Friday based on on our Fundamental Direction Strategy and based on the technical setups shared on this this article.
UsdChf
The Dollar Swiss pair has has been showing a great recovery since it strong sell which happened in the previous weeks after the fed interest rates and FOMC meeting releases in the previous month which caused a strong sell on most dollar base pairs. in the setup below we are looking for the formation of the next bullish leg to push price above the 0.99 handle and up to the 0.99750 which is the BAT level according to our fib retracement strategy.
EurUsd
The EurUsd has been very much under our view these past days as it had reached our entry targets and showed great price sell signals, this week we are looking for a very strong sell on the EurUsd as price has made it way below the 1.1300 minor support zone.
Recommended Article: Euro Dollar Expected Drop
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Please note that trading the NFP requires a lot of experience and may not be suitable for all traders, please use proper risk management in all your Fundamental trades. Forex and investing is not for the greedy but for the patient. we wish you all the best
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