Preparing for the Non-Farm Payrolls, the Elliott way

NFP is approaching, and with it, high volatility is most probably going to occur.

Technical Patterns and Fundamentals seem to be lining-up or synchronizing for a rather big move.

With the ADP Non-Farm Employment Change and the Preliminary GDP falling short of their projected figures, the USD now seems to become vulnerable.

Technically speaking, EUR, Gold, YEN, Silver, CAD, CHF, WTI, all seem to show Reversal Patterns.

So far, it seems as if this Friday’s NFP could disappoint.

 

Elliott Waves & Technicals 

DXY – 2H Chart

Focus:

• Ending Diagonal
• Rising Channel
• Bearish Divergence
• Fibonacci Extensions

XAU/USD – 2H Chart

 

Focus:

• Descending Channel
• Corrective Sequence

XAG/USD – 2H Chart

 

Focus:

• Rising Channel Break-out
• Corrective Bearish Sequence
• Fibonacci Extensions
• Bullish Divergence

WTI – 4H Chart

 

Focus:

• Rising Channel Break-out
• Bearish Impulsive Sequence
• Fibonacci Retracements

EUR/USD – 2H Chart

 

Focus:

• Descending Channel
• Ending Diagonal
• Bullish Divergence
• Fibonacci Extensions

GBP/USD – 2H Chart

 

Focus:

• Descending Channel
• Ending Diagonal
• Bullish Divergence
• Fibonacci Extensions

USD/JPY – 2H Chart

 

Focus:

• Impulsive Bearish Sequence
• Fibonacci Retracements

USD/CHF – 2H Chart

 

Focus:

• Descending Channel
• Bearish Sequence
• Bearish Divergence

USD/CAD – Daily Chart

 

Focus:

• Impulsive Bearish Sequence
• Resistance Reaction

DAX – 2H Chart

Focus:

• Impulsive Bearish Sequence
• Fibonacci Retracements

Many pips ahead!