Nonfarm payrolls, which was released on Friday, demonstrated really positive number: +224K. The worst situation is in Retail trade (-5,8K). All other spheres are growing.
Picture 1. The US Nonfarm payrolls
Average hourly earnings, which were published simultaneously with NFP, were +0,2%, which is worse than the forecast. The same happened with the unemployment rate, which was released at +3,7% (the forecast was +3,6%). But this didn’t stop the dollar bulls. The US dollar was rising against the euro and the main Forex pair returned back below the trend line.
Picture 2. EUR/USD daily TF
On Friday, we were trying to avoid trading the US currency and chose GBP/NZD for the analysis.
On 1D TF, the pair broke the local trend line up and started rising. Conservative traders may think of opening longs after the pair breaks its 9-EMA up. The price target is 1,91000.
The indicators are reversing. The MACD line is moving up and it is close to intersect the signal line. The Williams %R is leaving the oversold zone.
Picture 3 GBP/NZD 1D TF