As we are going to have USD - Non-Farm Employment Change news event today so The Royal Bank of Scotland made fundamental forecast related to this news event with the connection with the most attractive pairs to trade in any situation concerning the actual data for NFP for example. And just to remind: if actual data for NFP > forecast (200K for now) so it will be good for currency (US dollar will become more stronger).
The are 3 main scenarios for NFP:
data is 225k and above (with 200K forecasting ones): The most
attractive pair to trade in this case is AUD/USD: the strong case with
Australian dollar will be finsihed and we can consider for this pair to
be in more bearish market condition.
2. Actual data is 150-225k. This data is something to be around 200K
forecasting so we should consider the ranging market condition for most
of the pairs. The only pair may be attractive to trade is GBP/USD which
will be stapped with secondary ranging in intra-day for good breakdown
3. 150k and below. As we know - the long-term projections for EUR/USd is
the bearish market condition. But this is the opposite short- term
situation when actual data for NFP is less than forecasting 200K:
EUR/USd price will be going to be more bullish in intraday basis.
Short-term: Buy EUR/USD.
Long-term: Sell EUR/USD.