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JoeChampion
Mar 8, 2023 1:21 PM

EURUSD:Couple of Scenarios depending on Friday's NFP 

Euro Fx/U.S. DollarFXCM

Description

Hey Traders, above is a technical overview on EURUSD and the most important zones to watch, Fed yesterday have threw some hawkish comments "rates are likely to be higher than previously anticipated", but before the next FOMC we have a couple of events to consider. First of all NFP and next week CPI data.
If NFP comes again above expectations that will signal more rate hikes from the fed and thus more USD strength and EURUSD downsides. If the numbers are normal that will not be enough for fed to hike rates massively. and for CPI it's the same story. Numbers above expectations will lead to a more restrictive monetary policy and normal number will slow down the pace.
Feel free to ask any questions in the comment section.
Trade safe, Joe.
Comments
Arafaaat7
it wont short anymore after PMI news SNIPEd a very good entry to long
Lingrid
Very good view
JoeChampion
@Lingrid, thank you!
FOREXN1
Thanks for sharing , I think will drop!
JoeChampion
@FOREXN1, Nice one!
RLinda
Nice work. I think a strong set up will work just right) Thanks buddy)
JoeChampion
@RLinda, Thank you Linda
Traders-Club
Perfect!
JoeChampion
basictradingtv
I am absolutely bearish, thanks!
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