My counsel here, as usual, is to put your crystal balls away and trade the fact rather than expectation
I do have an inherent short cable position still and will look to add on rallies to 1.6900 with targets down at 1.6730-50 but expecting the pair to wipe its feet between 1.6800-10 whether we go straight down or not.
EURGBP once again should be keenly watched as a trigger, with plenty of offers from 0.7975 into 0.8000-10 which will add to cable demand in the dips or indeed temper rallies on EURUSD should a weak NFP provide a trigger higher toward 1.3450.
USDJPY has the immediate offers between 103.00-10 which we can expect to be taken out on a good number but there’s plenty more up to 103.50 where a short trade should yield some return. Bids into 102.50 then larger at 102.00 where shorts should be cut/trimmed.
USDCHF has renewed sell interest between 0.9100-10 and I will look to fade the rallies from there up to 0.9130-40 with demand expected into any dip to 0.9020-40 should we go straight down.
Expect good AUDUSD demand at 0.9250 and supply into 0.9320-30 while USDCAD will have initial resistance into 1.0975 and then larger at 1.1000 with demand from 1.0900 down to 1.0850.
As Ryan suggests, and others in the comments section, this NFP release may well be a little over hyped ( it wouldn’t be the first time) so I’m not expecting fireworks but will be prepared to trade the fallout should we get it.
Good luck out there one and all
