Forex Market Waiting Patiently for NFP Data 2015.10.02

EUR/USD

4 hour

The EUR/USD bounced at the trend line (blue) and remained between the resistance (orange) and support (blue). Today's Non-Farm Payroll (NFP) data and unemployment figures in the US could push price higher to deeper Fibonacci levels or lower and cause a break.

1 hour

The EUR/USD is in the middle of a contracting triangle at the moment (orange/blue).

GBP/USD

4 hour

The GBP/USD could be building a descending wedge chart pattern (trend lines) but the NFP data will have a major impact on price movement.

1 hour

Price could either have completed a wave 5 (pink) or build an extension via a wave 1-2 (green).

USD/JPY

4 hour

The bearish contracting triangle is invalidated if price breaks above the resistance point (purple trend line). A break below support (greens) could indicate the potential for a downtrend. Here too the NFP will have a strong impact on price action.

1 hour

The USD/JPY seems to have completed a wave 1 (purple) and could be expanding a wave 2 (purple).