Daily Perspective – 04/01/2019

What do we have in the news today? Hmm, let’s see;

The House voted for government reopening, will it pass through the Republican controlled senate?

We have the first Job data of the year being released today. Probably the single most important piece of data traders are waiting for to give insight on the direction of the USD.

So where are we seeing prices today?

EURUSD

We are bearish, we see prices testing 1.13053 and heading further below if the NFPs are positive and further below if there is progress on the US government shutdown.

On the other hand, prices can go to the R100 resistance level.

GBPUSD

We are seeing the pound sell off, the charts point to prices going past the pivot to support levels S38 and testing the S61 levels.

A lower than expected NFP will arm the bulls moving prices to test the R100 Resistance level.

USDCAD

If you have been following our previous daily perspectives, I have kept mentioning a likely sell off of the pair.
The 4hour charts are still pointing to a bearish move which could see prices testing the S100 or S138 Support levels.
However, prices are likely to go back up testing the R61 daily Support level and probably higher on good NFP results.

That’s it for today, and this week.

It’s the NFP day, caution can not be understated in your trading.

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