A1 Trading Company

August 5, 2022

Our Best USD Setups For Next Week

Frank Cabibi

After Non-Farm Payroll numbers came out, we are seeing some higher bullishness on the dollar. Actual beat the forecast of 372K jobs expected. Here is why the dollar is stronger and which pairs have the best USD setups going into next week.

Staying the Course

The Fed has more breathing room to raise rates now that jobs numbers are increasing. Less concern over contractions and layoffs has finally showed relief in the market. This unexpected jump in employment figures was a very bullish indicator for the economy and dollar strength.

best USD setups
https://www.forexfactory.com/calendar?week=jul31.2022#graph=122944

Powell has already pointed towards higher rates later this year. He also stated that investors should be expecting 50-75 basis point hikes, and the latest NFP made this statement more concrete.

Best USD Setups

GBP/USD

best USD setups

GU broke under a clean support level on the 4H and 1D before testing the long term falling trend line. Lower lows suggest more downside while dollar strength increases. Price could bounce from here, but momentum might not be strong enough to take it much higher.

AUD/USD

best USD setups

AUDUSD is in a similar boat as the pound and is showing more pressure towards the downside. On the 1D, price came down to test support on a falling trend line while there is an additional level right below that. Lower lows also suggests more downside for the pair.

USD/JPY

best USD setups

UJ fell back onto clean support on the 1D timeframe and took off from there. Price's recent jump into the 135s might look like the gains have run its course, but we may end up seeing a test around the 138-140s in next week's trading sessions due to the break above the trend line again and a higher high.

A1 Edgefinder

All-In-One Fundamental Dashboard!
Simplify your fundamental analysis with our all-in-one fundamental dashboard! 
Discount code: READER

Learn more

My Crazy Trade On Gold: Up $8000

Hey Traders! This week has been wild for Gold! Thanks to insights from the EdgeFinder, I've been in a trade on XAUUSD since May 3rd. Initially, I jumped in due to weak jobs and PMI data, sticky inflation, and solid support/market structure. Here’s a quick look at my gold trade: Entry Recap: On May 13th, […]

Read More
Is Gold the Buy of 2024?

Rates move lower after the BoE announced their latest monetary policy report to keep rates unchanged at 5.25%. Unemployment came in higher this morning with the 30-year bond auction coming up Thursday afternoon. In the midst of a slow news week in the US, gold is sitting at a very favorable position according to the […]

Read More
Yields Fall Ahead of Earnings

More earnings reports come out this week is causing an inflow of buyers in the equities market while yields begin the week on a decline. Last week's Fed meeting showed up as "less hawkish" than investors expected causing risk appetite to increase at the start of the summer months. EdgeFinder Analysis As we come off […]

Read More
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here
Home
Edgefinder
Signals
There is a significant degree of risk involved in trading securities. With respect to foreign exchange trading, there is considerable risk exposure, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you can afford to take the high risk of losing your money.
homesmartphonelaptop-phonemenucross-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram