9.5 Will the Non-Farm Payrolls Guide the Short-Term Direction? (Potential Swing Trading Opportunity)

The highly anticipated non-farm data will be released tonight at 20:30.
The market generally expects a rate cut in September regardless of the non-farm data, with the debate being whether to cut by 25 or 50 basis points.
On August 22, the speech by the Federal Reserve Chairman hinted at the possibility of interest rate cuts, which may be intended to prepare the market in advance and reduce the impact on the market when the rate cuts arrive.

Poor non-farm data and interest rate cuts in September are expected to attract a large influx of Wall Street structured and treasury companies.

Unless the published data is particularly strong, the Federal Reserve may hesitate on when to cut interest rates.

$ETH trend analysis
The key resistance for ETH is at the 4500 level. A breakout would strengthen the short-term trend, end the adjustment phase, restore the upward momentum, and aim for new highs.
The support level below is at 4250; a break below this will target the previous highs of 4000-4100.

$BTC trend analysis
The resistance above BTC is 112900-113500, 115800. A breakout above 113500 will strengthen the short-term trend.
Support below: 109200, 107200

**Trading Strategy:

Choose to trade ETH, the technical chart is clearer.

$ETH trading strategy:

When the non-farm data is poor, it drives the market to break through the 4500 line. After stabilizing, go long and hold a swing trading position.
(Note the false breakout of the data market's up and down sweep)

If it drops to the 4000-4100 range, pay attention to the rebound opportunity.
‍#非农就业数据来袭 #BTC #ETH