Non-farm payrolls delivered an interesting night of moves

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Forex market analysis: Non-farm payrolls delivered an interesting night of moves. I think there was some profit taking out there as well, because the over reaction from the data was a bit too extreme. The figure came in +192k and last months was revised from +175 to +197, this is good jobs growth by any standard. So it missed forecasted numbers but so what, that is just a bean counters estimate anyway. At any rate the market reacted, so safe haven flows kicked back in (ie JPY, AUD, NZD, CHF) as stock markets tanked 1% and VIX and gold jumped higher. A side note is that the Loonie also had good jobs numbers so CAD strengthened too.

 

DATA HIGHLIGHTS TODAY – Swiss CPI.

 

AUDUSD – Strengthened to retest resistance in a strong bar. Momentum is still high so I am not looking at buying into this rally here.

Resistance: 9300/9390

Support: 9085/8900/8654

 

EURUSD – Monthly chart looking decidedly bearish, good news for Mario. Daily chart is harder to see it and messy for efficient entries.

Resistance: 14050/14260/14320

Support: 13646/13565/13488

 

GBPUSD – Back on the ema and we ponder the previous move’s failure to gain traction. Is this a sign of the cable bull run ending? Could well be.

Resistance: 16785/1.69/1.70

Support: 16300/15950/15830

 

NZDUSD – Technically looking good as a swing low of 38.2% Fib retracement. I am sorry, but I just cannot bring myself to buy into it, however, technically it is ok.

Resistance: 8676/8842

Support: 8090/7925/7714

 

USDCAD – Have to see a full cycle under the ema before joining the sellers.

Resistance: 11170/11233

Support: 10953/10859/10715

 

USDJPY – Here is the pullback I asked for. Looking for entry to get long.

Resistance: 105.57/108.35/110.50

Support: 100.62/100/99.80

 

GOLD – Back to the ema and I suspect a dribbling sideways is the future for a few days.

Resistance: 1427/1480

Support: 1,265/1,180/1,040

 

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