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USD Trade Setups for Trading Life Before and After NFPs

USD Trade Setups for Trading Life Before and After NFPs

2014-05-02 11:10:00
Christopher Vecchio, CFA, Sr. Currency Strategist
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Talking Points:

- US NFPs due at +215K from +191K.

- Long EUR, GBP if USD weakens; short AUD, JPY on USD strength.

- US economic data dominates forex economic calendar on Friday.

To keep up with developments central banks and their policy changes, be sure to sign up for my distribution list.

The US Dollar is set for an explosive move with US Nonfarm Payrolls due on Friday, but it's important to plan for trading life after the release. Realistically, you don't want to necessarily be trading the report itself, but rather, the levels that are touched in the various instruments following the release. Watch the video for a detailed explanation and a look at the charts for each of AUDUSD, EURUSD, GBPUSD, and USDJPY.

Read more: FOMC, NFPs Best Bets to Stir US Yields, EUR/USD from Low Vol Slumber

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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