Member of The Egyptian Society of Technical Analyst
Head of Education department, Market Strategist, Chief Technical Analyst of Global Leading Forex Brokerage companies
Trained over 5000 professional trainers more than 10 years
BSc in Economics from Mansoura University
06 September 2019
US Non-Farm Payrolls: Friday, 12:30. The all-important jobs report is the last one before the critical Fed decision later this month. After a few unstable months, the world’s largest economy gained 164K in July – bang on expectations. A similar increase of 168K is forecast for August while wages – which are no less important – are set to rise by 0.3% MoM once again. The unemployment rate carries expectations of remaining unchanged at 3.7%. Any significant deviation may move the Fed – not in its probable rate cut – but in future projections.
Fed Chair Jerome Powell talks Friday, 16:30. Just before the central bank enters its “quiet period” ahead of the September 18 decision, its boss will have the chance to shape expectations. Powell speaks in Zurich just four hours after the NFP and may provide more clarity after the balanced speech at Jackson Hole. The address is titled “Economic Outlook and Monetary Policy” – leaving o doubt about the importance of the event.
USD US Non-Farm Payrolls Fed Chair Jerome Powell talks
Update: Strong resistance level faces the pair at 1.1074.The chart above shows that the pair is traded below a strong resistance level that is 1.1030. Therefore, we are bearish as long as the pair is traded below it. Our first target 1.0850.
▪ 1.1500 ▪ 1.1450 ▪ 1.12
▪ - ▪ - ▪ 1.0850
We are bearish as long as the pair is traded below the level of 1.1030.
Update: Our target has been hit.The chart above shows that the pair is traded above a strong support level that is 1.20. Therefore, we are bullish as long as the pair is traded above it. Our first target is 1.21. Conditioned by the continuation of trading above the level of 1.20.
▪ 1.36 ▪ 1.3310 ▪ 1.2550
▪ - ▪ - ▪ 1.20
We are bullish as long as the pair is traded above the level of 1.20.
Update: No bullish evidence has shown up.As could be seen on the chart above that the pair is on its way to reach a strong resistance area located between 1549 – 1554. So, we will be waiting for the pair to reach this area, then in case it shows up some bullish evidence, we can go long targeting the level of 1530.
▪ 1550 ▪ 1540
▪ 1490 ▪ 1260 ▪ 1265
Waiting for the pair to reach the support level of 1555.
Update: Still waiting for the resistance level to be broken.As could be seen on the chart above that the pair is traded above a strong support level that is 0.6680. We also find a strong resistance level at 0.6827. If the pair managed to break through the resistance level, we can go long targeting the level of 0.70 during the week.
▪ 0.7550 ▪ 0.7600 ▪ 0.7000
▪ 0.6680 ▪ 0.6650 ▪ -
Waiting for the confirmation
Update: First target has been hit.The chart above shows that the pair is traded above a strong support level that is 126.60. In case it shows up some bullish evidence, we can go long targeting the level of 130 during the week.
▪ 156 ▪ 155 ▪ 141
▪126.68 ▪ 126.50 ▪ 126
Waiting for some confirmations
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