 The Non Farm Payroll is traditionally watched for clues to the direction of the USD. However, although the USD gained some volatility after the economic releases this morning… |
 The USD was in consolidation/ correction mode this week ahead of the NFP. This is in a sense the market’s way of paring some overextended USD gains, but also offers a chance for the market to… |
 The daily chart shows the EUR/GBP going up against a declining trendline. The market is reacting by pausing the rally at 50% retracement, 0.8350 level. Note the RSI is remaining under 60 for now and is turning lower. The 0.8400 area is 61.8% retracement, and is the resistance… |
 The USD appears to be in consolidation or correction mode. The EUR/USD is in correction mode, looking to retrace 50% of the decline since the last Non-Farm payroll release… |
 The USD/CAD was not able to break above channel resistance, and is attempting to top off. The 1.05 is the base for the possible double top developing. The 4H chart shows the reading struggling to go below 40. A break below 40 can invalidate the bullish signal of the RSI… |
 The EUR/GBP rallied past the 0.8320 target set in the August 31st EUR/GBP update. The surge is heading up against resistance at the 61.8% retracement level at 0.8380. It is at 50% at the moment and also testing a declining trendline. Also note that the 0.8400 level is… |
 The USD/CAD is in a range roughly between 1.0150 and 1.07. To be more specific, there is historic resistance at 1.0670. After 2 tests, today’s price action so far heading into the US session, is a reversal candle. If the candle is equal or larger than the previous up-candle, it may signal a reversal… |
 Although the market was bearish for most of the first 2 sessions. The third session this week started pushing up the Euro in the Asian session. This accelerated in the European session. This is not surprise ahead of the Non-Farm payroll. We can expect some lower volatility but after the current swing. |
 This is a follow up to this mornings EUR/USD update, where I was stalking the correction rally. So far the market has held the pair below 1.2740, an important area as I mentioned.It has become a pivot for a decline in the US session… |
 The USD/JPY has stalled at the Falling Wedge pattern’s downtrend line resistance after the emergency meeting by the Bank of Japan (BOJ) failed to create the desired yen weakness… |
