Broker Arena

August 8, 2016

Trading signals 08.08.2016

Trading signals 08.08.2016

Non-Farm Payrolls report released last Friday soothed investors concerns regarding the health labor market in US. Two opposite extreme NFP readings in May (38K) and June (revised to 292K) kept investors puzzled whether they need to quit risk assets or extend hunting for higher yields. As US Labor department reported 255K jobs created in July, beating analysts forecasts (180K) large money received signal US labor market gained solid footing diminishing medium-term risks for second largest world economy.

Strong NFP after pretty aggressive monetary easing of Bank of England provide a basis for increasing plays in risk assets what implies reducing positions in safe heavens, such as Gold, Japanese Yen, Swiss Franc and Government Bonds of US, German and Japan. 

Signals for Monday:

XAU/USD (Gold)



On daily timeframe we see that price heads to the support level $1310 level price hit before the BoE refrained from cutting rates in July.

Signal:  Gold is in the mood to tank further to $1.325 today.

Preffered lot size – 0.1 lot. TP – $1.325, SL – $1.338



Price touched medium-term support at 1.302 on Friday, recoiling to 1.305. Attempt for a second test failed during London start so the pair is probably heading to 1.3150 level after a bounce at 1.31.

Signal: Buy GBP/USD

Preffered lot size – 0.25 lot, TP – 1.3150, SL – 1.3010


WTI (US Oil) 

After highly ubpeat EIA report on gasoline stockpiles in US (reduced greatly) and upbeat NFP prices seem to have succesffully bottomed out $40 mark. We expect the price to make more gains on growing risk appetite.

Signal: Buy WTI

Preffered lot size –  50 lots. TP – $43.10, SL –  $41.90

Let us know if you have any corrections or questions.

No votes yet.
Please wait...
0 likes Market notes
Share: / / /

Leave a Reply

Explore sections
Top 10 Forex Brokers
  1. Pepperstone
    Rating: 5.0. From 1 vote.
  2. Tickmill UK
    Rating: 5.0. From 1 vote.
  3. FX Pro
    Rating: 5.0. From 1 vote.

Subscribe to get our Premium ideas for trading!

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Broker Arena will use the information you provide on this form to be in touch with you and to provide updates and marketing.