Post-NFP Reaction; Both Stocks and USDollar Are Coming Lower. What’s Happening?
Aug 2, 2024

DXY vs SP500

US jobs data (NFP) disappointed where it comes out 114K vs 176K expected, while unemployment rate changed from 4.1% to 4.3%. We can see USDollar Index – DXY coming lower, breaking new intraday lows, but along with stocks, as we are still in risk-off sentiment. At the same time, JPY and metals remain as safe haven assets, because 10Y US Notes is now extending strongly higher with space for more gains. We believe that DXY might stay under bearish pressure within a new five-wave bearish impulse, especially if we will get stabilization in the SP500 after it fully completes a corrective decline.

Post-NFP Reaction; Both Stocks and USDollar Are Coming Lower. What's Happening? DXY 2H Chart vs. SP500
DXY 2H Chart vs. SP500

If you want to understand the markets and to follow them step by step, then you may want to become a member of www.wavetraders.com

Become a premium member

Get daily Elliott Wave updates for CRYPTO, FIAT, SP500, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.

Register and look inside of our members area

FX and Stocks

USDJPY and Connection With Stocks

Read More

Funded Trader Program

The funded trader program is online trading on a demo account where traders can prove their trading skills on different account size. If they are successful based on specific rules then traders will be funded on a real trading account and make money from the profits.

Read More

Learn Elliott Waves

Video lessons about the Elliott Wave theory. Access to more than 7 hours of educational material

Read More

Do you find this interesting? Subscribe to our newsletter and stay up to date.

In our newsletter you will find all the news and macro reports about Forex, Crypto, Commodities and more. Don't miss a thing!

    DISCLAIMER

    Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

    The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

    Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

    By continuing to use the site, you agree to the use of cookies. Learn more.

    The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

    Close