Daily Price Action

Price Action Setups in Light of Tomorrow’s NFPs


Seeing as how tomorrow is Friday and NFPs are scheduled for 13:30 GMT, we won’t be covering any new setups for today. Be sure to manage any open positions carefully in light of the upcoming event risk. Something tells me that tomorrow’s NFPs will be more volatile than usual given the US dollars positioning.

That said, there are still three setups in play from earlier in the week.

I still like the idea of selling NZDUSD at higher levels.┬áBut we’ll have to wait for bearish price action as confirmation before considering a short entry.

See those levels here:


The 4 hour bullish pin bar on EURAUD appears to have some legs after all. The pair was able to climb 160 pips today from the low, allowing the setup to remain in play for now.

See the pin bar here:


Lastly we have yesterday’s setup in EURGBP. The .7490 level was tested today as new resistance, forming a bearish pin bar in the process.

I still like this market lower, but once again, tread carefully over the next 24 hours given the scheduled event risk.

See the EURGBP setup here:


The usual schedule of price action setups will resume with the weekly Forex forecast.

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