The NFP data has missed the estimates so I would be looking to short dollar next week. You can see on 1 hour chart of USD/JPY that after reaching R1 level on the Classic Pivot it has bounced back down all the way to S2 level, while the RSI is at 32 pointing down. I would look for the pullback to S1 level which is around the level of the middle Fibonacci Bollinger band before it continues down to at least S3 level.
It's a shame both of my trades, CADCHF and EURGBP, got cut off due to the weekend margin change. I have readjusted my stop loss and profit target level for the market to take me out but I guess I've done it too late as due to reduced trading volume both pairs just kept ranging in between two levels. As a result I might need to take more smaller trades in the upcoming weeks in order to compensate the lost quality points.
Translate to English Show original