Dollar Slightly Bearish Amid Dovish NFP

October NFP Result.png
NFP result on 7th October 2016

The result of the NFP was inclined slightly to a dovish dollar as employment change was a little weaker than the forecast and the wages growth picked up and performed better than forecast. However, more weight will still be put on employment change and therefore the dollar weaken subsequently throughout Friday evening. The effect will usually be brought over to the beginning of the next trading week and here I found some currency pairs that are suitable to go for a sell.

USDJPY H4, price falling from the top of a range.

USDJPY M15, price making retracement towards the minor falling trendline

In H4 chart, the price is seen resisted at a major resistance zone and has begun to fall. A major range can also be seen and the price is definitely falling from the top.
In M15 chart, the price has taken a pause from a fall and is now moving sideways.
Price is forming lower highs and resisted by a minor falling trendline and the price has just made a minor retracement.
Wait for the price to complete its 2nd retracement which will bring it to the falling trendline to look for sell opportunity.
USDCHF H4, Price falling from the top of a major range

USDCHF M15 Chart

USDCHF M15, price making retracement from previous fall.

USDCHF is also seen resisted by a major resistance zone at 0.9807 at the to of a major range as seen in H4 chart, thus the price is most likely to fall further.
In M15 chart, the price has begun its retracement and is now consolidating.
Wait for the price to complete its 2nd retracement to look for sell opportunity.

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