EURUSD Scalp: Labor Data in Focus
Buckle up traders, this week's volatility is coming straight from the US labor market!
We've got a data deluge headed our way:
• JOLTs Job Openings (Wednesday)
• Initial Jobless Claims (Thursday)
• Non-Farm Payrolls (Friday)
Previous NFP numbers hinted at a softening labor market, fueling the debate: Will the Fed go for a 25 or 50 bps cut? Right now, it's leaning 25 bps, but softer labor data could swing things toward 50.
Here's the play:
Strong data = Dollar 💪, EURUSD could break 1.1000. Time to short!
Weak data = Dollar 📉, bigger cut likely, EURUSD could rally up.
My take? Friday's Personal Income data flashed an inflation warning, giving the dollar a boost. If this keeps up, I'm eyeing a short scalp on EURUSD, targeting that 1.1000 level. But I'll be patient, waiting for enough volatility to jump in.
We've got a data deluge headed our way:
• JOLTs Job Openings (Wednesday)
• Initial Jobless Claims (Thursday)
• Non-Farm Payrolls (Friday)
Previous NFP numbers hinted at a softening labor market, fueling the debate: Will the Fed go for a 25 or 50 bps cut? Right now, it's leaning 25 bps, but softer labor data could swing things toward 50.
Here's the play:
Strong data = Dollar 💪, EURUSD could break 1.1000. Time to short!
Weak data = Dollar 📉, bigger cut likely, EURUSD could rally up.
My take? Friday's Personal Income data flashed an inflation warning, giving the dollar a boost. If this keeps up, I'm eyeing a short scalp on EURUSD, targeting that 1.1000 level. But I'll be patient, waiting for enough volatility to jump in.
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