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!