I’m back! Though it’s already the middle of the trading week, it’s better late than never. I haven’t fully recovered yet from my bouts of cold and flu, but I’m feeling better now. These are the times (in GMT +8) I’ll be watching for in the following days:
In my opinion, I don’t find the NFP last Friday disappointing, more like people were simply having too much expectations especially since August month usually features low (if not lowest) NFP numbers historically because well, summer, and the banks’ expectations were more realistic. There could have been some chance the Fed would still raise interest rates this September especially NFP reports are often revised (I’m also assuming Yellen and the rest aren’t using NFP as gauge to adjust rates or not) if only the ISM Non-Manufacturing PMI didn’t disappoint yesterday. Given the current sentiment on the USD, these are the price levels I’m eyeing for the week:
EURUSD – ranging; waiting for it to break 1.12681 and touch 1.13715 zone before bouncing back down or going up further, depending on ECB’s decision tomorrow. Planning to close my current buy stop before the interest rate decision and opening another order next week after the Eurogroup meeting this Friday.
GBPUSD – sell but possible reversal; waiting for this pair to break at 1.34967 daily zone then heading to 1.37341 before I could confirm that this pair has indeed reversed. I’ll be extra careful in trading this pair as well like EURUSD and will be monitoring its inflation report hearings later today.
AUDUSD – ranging; currently eyeing the 0.77008 hourly zone and see if this pair will continue to rise up to 0.77916 daily zone especially after the strong Australia Q2 GDP report
USDJPY – short but might rally soon; might soon bounce up near the 101.815 daily zone and rise again to 103.296 before resuming its decline
XAUUSD – ranging; avoiding this pair now unless I’ve confirmed that this pair breaks at the 1356.70 daily zone considering USD’s weakness across the board
XAGUSD – ranging; eyeing the 20.584 daily zone. It might reach that zone before bouncing down again assuming sentiment on USD has not changed.
EURGBP – sell but might rally soon; watching 0.83107 daily zone closely if this pair will bounce up near it or break past that zone especially after ECB’s interest rate decision tomorrow.
NZDUSD – long; this pair might continue to go higher to 0.74509 daily zone especially after RBA’s decision to keep its current interest rate levels and the current uncertainty and sentiment in USD.
USDCAD – ranging; despite the current sentiment on USD, I’ll be careful in shorting this pair because technically it might go up soon either near 1.28215 or at 1.27578 hourly zone.