Technical Levels for NFP

January 7 2022

It’s the first NFP Friday in 2022. The forecast is for an increase of 400K in December’s payroll and a drop in the unemployment rate to 4.1%. However, what are the technical levels we need to watch.

D1 EURUSD

EURUSD immediate support remains at 1.1270 a break will open a test of 1.1220 support and possibly 1.1180 in extension.

Resistance remains at 1.1340 if broken you should see another run up towards 1.1390/1.1400 resistance.

D1 GBPUSD

While GBPUSD remains below 1.3560 there is a risk of a deeper correction to 1.3440 and possibly 1.3380 in extension.

If the pivotal resistance is broken at 1.3560 then 1.3610/20 would be the target.

DI USDJPY

USDJPY consolidating above 115.60/50 support, a break of this support could see a move to target 115.20 or 114.80 in extension.

Resistance remains at 116.40 a move above here would see a test of 116.80/117.00

D1 XAUUSD

Downside momentum continues to weigh on Gold

Resistance is now found at 1798.1800 and if broken you could see a move to 1808 or possibly 1818 should NFP disappoint.

Support is at 1786/1784, if broken the target will be 1774 or 1766 in extension.

Contact us at support@8dcglobal.com for more information on how to trade Forex, Metals, Crypto and other Financial Markets with 8DC FX.

Published by Neil Callard

Forex Trader and Educator. 30 years trading experience, of which 20 years was market making in major currencies in large international financial institutions.

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