USD weaker ahead of the NFP

Published 10/06/2017, 07:37 AM
EUR/USD
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AUD/USD
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USD/MXN
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An hour before the NFP, USD is a bit weaker and is giving up some of the latest gains.


EURUSD is potentially creating a triple bottom formation, which can actually end the bearish correction here. The price is defending the 23,6% Fibo and today we can see a bits of demand on this important support.


USDMXN had two choices. One of them was a bullish breakout of the upper line of the ascending triangle formation and second one was the breakout of the neckline and a sell signal. The price chose the first option, which triggers a buy signal on this instrument. Although we do have a positive sentiment here, we have to watch out for the bearish reversal, which can test the latest resistance as the closest support.


Potentially nice reversal is emerging on the AUDUSD, where the price is creating a hammer on the daily chart on the very important horizontal support. All we need for a buy signal here are worse payrolls and an upswing which will help to keep a hammer alive.

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