The above video kickstarts the trading day for March 8 with the technical look at the EURUSD, USDJPY and GBPUSD after the US jobs report.
That report was more mixed with stronger job gains this month, but large revisions to prior months. The unemployment rate also ticked up to 3.9% from 3.7% and average early earnings work less than expected. As a result, the US dollar moved lower.
In this video, it outlines the bias-defining levels, the risk for that bias, and the trading targets with a focus on the three major currency pairs.
The market is painting the picture of the Fed moving more toward easing. Yields are lower, the US dollar is lower, and gold prices continue their surge. That’s half the story. The other half is the technicals which defined the bias and risks for Forex trader’s.
Be aware. Be FULLY prepared.
This article was written by Greg Michalowski at www.forexlive.com. Source