ZuluTrade Blog
Image

Market View

Reviewing USD pairs before NFP (EURUSD,GBPUSD,AUDUSD,USDJPY,USDCHF,USDCAD)

Friday, March 10, 2017 5:38 AM GMT

Markets are expecting 190k jobs increase this month versus last month’s 227k while unemployment rate 4.7% versus 4.8%. In the event of a positive NFP, a rate hike will be confirmed at the FOMC meeting in the upcoming week; therefore, USD dollar will be under pressure.  Nevertheless, traders believe that market has already priced in the potential rate hike so there are a few signs of exhaustion on the downside. 

Let’s review the supply and demand zones on major USD pairs on hourly timeframe and how traders could play the upcoming volatility due to NFP later.

EURUSD


USDJPY


USDCAD


USDCHF


GBPUSD


AUDUSD