Good morning traders! A new month is upon us, schools back in for some of you. Here it also feels like autumn is here, the leaves are not yet falling but the summer weather is gone.
Today is NFP day - for you who don't know what NFP stands for - it Non-Farm Payrolls data fro mthe US and it's one of the most market-moving events after CB speeches. So traders - be cautious today and after NFP, take some time to let the dust settle, some of these moves will probably carry on the next week. The market will always be there.
Since it is a new month, don't forget to check the monthly charts once in a while, the candles that have formed, might give you some clues and direction.
Charts incoming!
BTCUSD monthly. Hitting a big level with that 4.236 fib extension. And look at that monthly chart! I believe we need some red soon to carry on.
BTCUSD. I hate to be a doomonger but relative strength is not catching up either. While divergence can easily disappear if the price keeps rallying, this last part is not somehting i want to take part of. Need some proper red to get further strength.
EURUSD daily. And correct we did. Not happy yet with the scope of correction. While we tested a nice 250 pips from the highs and found support around the monthly open, i believe we could get even lower.
SPX flag in play. Are we gonna test the ATH-s again? Today NFP might show us.
USDCAD weekly and monthly a gravestone doji candle. Unfortunately so close to support. Eyes on this instrument.
So thank you for reading. These are the charts that i have on my mind in addition to some others from previous days. Feel free to check out last few days' posts to get some ideas and thoughts.
Alright, everybody! Happy Friday, happy NFP day and trade safe!
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