Good Morning,

Here it is NFP (Non Farm Payroll) day...usually the biggest volatility day in the Forex calendar.

<strong>OVERVIEW:</strong>

Most indices and currency pairs are heading to the flat line or the mid point ahead of the data release. This is typical.

<strong>TRADES:</strong>

EUR/CAD &amp; GBP/CAD:
I tweeted two trades yesterday with charts attached; EUR/CAD and GBP/CAD. At the time of writing this blog post, the EUR/CAD was on my entry level and the GBP/CAD was about 30 pips below. I will not enter these trades today unless NFP is favourable. I will tweet if I FLASH TRADE or set limit orders to FUNDAMENTAL TRADE these two trades.

USD/SEK:
On the Weekly chart we are below the trend line. As I mentioned yesterday, the previous upside move was a false breakout. If this pair gets above 6.5500 it may be interest again to the long side.

GBP/USD:
Below 1.6830 and this pair could very bearish, very quickly.

AUD/USD:
This pair is sitting very close to teen line support at 0.9250. A breakdown and a break thru 0.9225 would be very bearish for this pair. The AUD/NZD cross-rate effect is in play, keeping the AUD weak and the NZD strong.

NZD/USD:
Needs to drop below 0.8600 to get bearish.

USD/CAD:
A false breakout yesterday. I was hoping that the double bottom measured move to 1.1020 would play out, but it was another false move. However, 1.0940 to 1.1020 is the range for me today.

EUR/USD:
This pair has to break out sooner or later. I am hoping for the short side as I am currently in a short position. Watch the outer limits of the range for clues 1.3850 to 1.3920.

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Good luck and take care today,

Scott.