Don’t waste your time – keep track of how NFP affects the US dollar!
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Personal areaEUR/USD is moving inside the descending channel. The breakout below the 1.1750 support level will press the pair down to the key psychological mark of 1.1700. However, if the euro manages to cross the recent high of 1.1780, it will jump to the 50-period moving average of 1.1800.
USD/JPY has reversed up from the lower trend line. If the pair crosses the high of July 14 at 110.70, it will jump to the psychological mark of 111.00. The downside is limited by the 50-day moving average of 110.00 and the lower trend line.
Gold is trading just below the 38.2% Fibonacci retracement level of $1815. If the yellow metal manages to break this level, it may jump to the 200-day moving average of $1825. On the flip side, the move below the support zone of the 100-day moving average of $1795 and the 23.6% Fibo levels of $1790 will open the doors to $1775.
