High Probability Levels To Trade NFP- S&P 500 and DJIA - Forex News by FX Leaders

High Probability Levels To Trade NFP- S&P 500 and DJIA

Posted Friday, July 7, 2017 by
Arslan Butt • 2 min read

The global stock markets fell dramatically a day before NFP, but we were fortunate enough to catch a couple of really good trades on the U.S. & European indices. I hope you guys are excited to trade the Nonfarm payrolls event today. Let me just remind you that this event has the potential to cause extreme market volatility. With this in mind, we shouldn't be surprised to see many instruments entering new trading zones. Therefore we may need to look at new trading levels to optimize our strategies.

Let's take a look at new high probability trading levels for the U.S. stock market indices, which are specifically formulated for this volatile environment. For a detailed understanding of trading levels, refer to our astounding Support and Resistance Levels – Forex Trading Strategy.

S&P 500 (SPX500) – Trading Levels

Support            Resistance

S1: 2406             R1: 2418

S2: 2398            R2: 2430

S3: 2386            R3: 2438

Key Level: $2418

DJIA (US30) – Trading Levels

Support             Resistance   

S1: 21296            R1: 21491

S2: 21236           R2: 21551

S3: 21139            R3: 21649

Key Level: $21394.30

In Conclusion – The market could burst into sudden volatility as speculators and noise traders might try their luck ahead of the U.S. session. Therefore, it's highly recommended to wait for the NFP report's outcome rather than to enter the market blindly. Good Luck!

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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