Going into NFP week, the market is positioned in a premium array, trading above equilibrium. The recent attempt to push higher failed with a swing high left behind – an inducement that sets the tone. (a later target i would say)
We now have a buy-side rejection and displacement lower into sell side delivery. Price is hovering just up around equilibrium , with 2 inefficiencies overhead serving as potential rejection points.
I expect that the Bearish target will be taken close before or at NFP.
If Bullish target is taken first I would re-assess.
We now have a buy-side rejection and displacement lower into sell side delivery. Price is hovering just up around equilibrium , with 2 inefficiencies overhead serving as potential rejection points.
I expect that the Bearish target will be taken close before or at NFP.
If Bullish target is taken first I would re-assess.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.