Unemployment numbers Today makes it a huge day for some Major pairs

 

As positioning, volatility and nerves get the best of us as we anticipate the unemployment for those who are trading the news. It is to be noted the following…

Aud/Usd needs a close above .6547

NZD/usd needs a close above .6145

Usd/Cad needs a close below 1.3842

Gbp/USd needs a close above 1.2650

EUR/USD needs a close above 1.0900

 

These level are huge for the greenback  because it would shift focus of the market and for a further dollar decline. 

April Unemployment numbers will be a defining factor in the dollar future going forward. 

How to trade it?

Naturally, you sell at resistance and buy at support. Therefore, since these are resistance and support levels until a close below the Usd/cad and above EUR/usd, gbp/usd, Aud/usd, and NZD/usd, then the pairs are a sell. Looking at the weekly close would provide the best indicator as what to do moving forward. If it closes above or below the levels indicated, then we know what to do.

Please keep in mind false breakout, wouldn’t make it a close and of over bought and over sold conditions. To learn more https://sophisticatedtrader.com/courses/forexmasterclass/

 

Happy Trading!