');document.write('DailyFX -
');document.write('Jamie\'s Trading Video: 09/02
');document.write('
');document.write('Currency Markets Shift Focus to the U.S. Nonfarm Payrolls Report for August
');document.write('

The spotlight this week will be placed on the U.S. Nonfarm payrolls report for the month of August. Economists are expecting the labor market in the world’s largest economy to plunge 103,000 after payrolls took a free fall of 131,000 in July. With waning fiscal stimulus likely to impede the recovery in the U.S. in conjunction with tight credit conditions, and an uncertain economic outlook, a disappointing NFP report should not be ruled out. In turn, figures less than expected may lead traders to seek safety, which will lead to gains in the greenback and validate further EUR/USD losses. Market participants should not rule out whipsaw price action ahead of the report or a less than usual reaction to the release as some traders are offline going into the holiday weekend.

');document.write('
');document.write('NFPs Curbs Volatility, May Struggle to Inflate Activity Before Holiday Liqudity Drain
');document.write('
');document.write('Oil and Gold Advance in Tandem as Speculative Volatility Recedes Pre-NFP
');document.write('

It is a common phenomenon for the capital markets. With the approach of heavy event risk like US nonfarm payrolls, speculative liquidity sources will temper their turnover to avoid being caught on the wrong side of a fast moving market.

');document.write('
');document.write('Forex Strategy Corner: Bollinger Bands Techniques for Trading
');document.write('

Bollinger Bands have long been one of the most popular technical indicators across financial markets, and many forex traders use them regularly in their day-to-day trading. The key question to ask of any forex analysis technique is nonetheless clear: how effective is the Bollinger Bands indicator as a forex strategy? This article will take a closer look at one key Bollinger Band trading strategy on several forex pairs and explores one way to improve its effectiveness.

');document.write('
');document.write('Trading Styles
');document.write('

Student\'s QuestionI read all the time about \"aggressive\" in contrast to \"conservative\" traders. I simply have no idea what I should be! Could you maybe comment on contrasts between these two \"types of traders\". How should I behave? What brings more profit or what preconditions or situations should I look at to know if I should act aggressive or conservative?

');document.write('
');document.write('EUR/USD: Trading the Change in U.S. Non-Farm Payrolls
');document.write('

The U.S. dollar could face increased selling pressures over the next 24 hours of trading as market participants anticipate the labor market to weaken for the third consecutive month in August, and the data is likely to reinforce a dour outlook for the world’s largest economy as private sector spending remains one of the leading drivers of growth.

');document.write('
');document.write('US Dollar Forex Options Sentiment Points to Pullbacks
');document.write('

Sharp US Dollar declines have been met with similarly noteworthy shifts in FX Options market sentiment, thwarting calls for USD rallies through short-term trade. In past weeks we wrote plainly in favor of Dollar strength on the combination of overextended futures positioning and sharp correction in FX Options risk reversals. Yet more recently we have seen pullbacks in both and have little option but to shift our short-term bias.

');document.write('
');document.write('The FX Market has now Entered the Pull of Friday NFPs
');document.write('

');document.write('
');document.write('Canadian Dollar May Appreciate Against USD
');document.write('

');document.write('
');document.write('Japanese Yen Forecast to Gain Further
');document.write('

');document.write('
');document.write('Euro Forecast Turns Bullish Against US Dollar
');document.write('

');document.write('
');document.write('British Pound Bias Calls for Weakness
');document.write('

');document.write('
');document.write('Swiss Franc Likely to Strengthen against Dollar
');document.write('

');document.write('
');document.write('British Pound Forecast to decline Against Japanese Yen
');document.write('

');document.write('
');document.write('US Dollar Forecast Turns Bearish vs Euro, Japanese Yen
');document.write('

EURUSD – Euro Forecast Turns Bullish Against US Dollar

GBPUSD – British Pound Bias Calls for Weakness

USDJPY – Japanese Yen Forecast to Gain Further

USDCHF – Swiss Franc Likely to Strengthen against Dollar

USDCAD – Canadian Dollar May Appreciate Against USD

GBPJPY – British Pound Forecast to decline Against Japanese Yen

View individual currency SSI charts in our FX Sentiment section

Interested in building your own SSI-based strategy? Request SSI data on our forex forum.

');document.write('
');document.write('USDCAD Test of the 38.2% Fibonacci Retracement Ahead of the U.S. NFP Report May Set the Stage for an Intraday Trade
');document.write('

The USDCAD has pared yesterday’s decline and has found support at the 38.2 percent Fibonacci retracement on the April 21st to May 25th upswing ahead of the U.S. Nonfarm payrolls report. As price action has been range bound for the past couple of sessions, a potential long intraday trade may be in the horizon subsequent to the U.S. labor force report.

');document.write('
');document.write('Crude Resitance Begins at 7700
');document.write('

');document.write('
');document.write('Gold 1270 in Danger
');document.write('

');document.write('
');document.write('Swiss Franc Continues Dominance
');document.write('

');document.write('
');document.write('Canadian Dollar Short Term Channels are Points of Reference
');document.write('

');document.write('
');document.write('Japanese Yen Remains Vulnerable in Near Term
');document.write('

');document.write('
');document.write('New Zealand Dollar Support Begins at 7100
');document.write('

');document.write('
');document.write('Australian Dollar Support Begins at 9000
');document.write('

');document.write('
');document.write('British Pound Decline May Extend Below 15000
');document.write('

The pattern of the decline from 16000 is not clear-so the decline is probably not complete. One possibility is a double zigzag. The 2 legs would be equal at 14980, which is defended by the July 12th low.

');document.write('
');document.write('

');