KOG REPORT - NFP

NFP – KOG Report:

This is our view for NFP today, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile, and these events can cause aggressive swings in price.

It’s been a decent week in Camelot, so today’s NFP it’s suggested we stay away, let them move the markets to where they want, once the price settles then look for the key levels together with a high probability set before getting back into the markets.

New traders, this usually happens next week!

We’ll start by saying we should be bullish in these months with Gold attempting to break the 2000 level, however, looking at the structure of the chart we can see they’re lining up for a big move. Now, we have the key levels below 1920-23 which is important for price to stay above to then attempt to target the order region 1950-55 above. If price is supported around the 1920-23 region, we feel price may attempt to recover and attack the 1950-55 price region. This region is where we may get a reaction in price, which based on resistance could represent an opportunity to short the market back down for the lower levels.

These levels need to be watched for a break either side of the overall range, which is shown on the illustration.

Key levels for NFP –

Support: 1930 / 1925 / 1923 / 1920 on break lower into 1910-05 target region

Resistance: 1935 / 1942 / 1950 / 1955 on break higher into 1985 target region

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As always, trade safe.

KOG