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Trading the US Non-Farm Payrolls. Suez Canal Blockage.

   

Welcome to this week’s Market Blast Fundamentals.

I’m Brad Alexander and on behalf of Valutrades today we will take a look at Brent Crude, WTI, EURUSD, USDJPY and the US Non-Fam Payrolls.

 

We are seeing USD strength against all other major currencies which, in many cases like EURUSD or USDJPY, started in the beginning of this year.Screenshot 2021-03-29 at 10.52.33

This gives us an opportunity in economic news trading to look for movement in price action against the trend.

For example, should this week’s Non-Farm Payrolls temporarily drive the price lower on USDJPY, to a line of support, we can buy back in using our technical strategies and risk management.

This week we have many opportunities with tomorrow’s Consumer Confidence Index, Wednesday’s ADP Employment Change and Pending Home Sales, Thursday’s Manufacturing PMI and, Friday’s Non-Farm Payrolls.

Also, watch for the Crude Oil Stocks Change which will affect the price of WTI.Screenshot 2021-03-29 at 10.52.57

Also, we have good news about the blockage of the Suez Canal and a final resolution and the full opening of the canal, should drive both Brent Crude and WTI lower.

Thanks for watching and don’t forget to subscribe to our YouTube Channel and register on the Valutrades website to get notifications on new content as it happens.

That’s all for now.  Happy trading with Valutrades and we will see you tomorrow.

CFDs and FX are leveraged products and your capital may be at risk.

Disclaimer:

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.

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