NFP Stop Hunt: Forex Chart Markups, 1 June 2026

The NFP stop hunt of Friday 5 June 2026 happened before the number came out. In the London session EURUSD, GBPUSD, AUDUSD and NZDUSD all ran above their Asian ranges. Then the US jobs report at 08:30 New York produced the reversal: 126 pips on EURUSD and 153 on GBPUSD. No pair showed a midweek reversal this week, but we marked up 11 textbook setups and 3 partials.

The week in brief

• Markets: the seven forex majors and gold (XAUUSD, counted at 1 pip = $1), on 15-minute and 1-hour candles.
• Daily setups: 11 textbook and 3 partial.
• Weekly cycle: none. No market made a Tuesday-to-Thursday high or low and then reversed.
• Setup of the week: EURUSD on Friday, M formation, 1 of 8 on confluence: 126 pips that day, 126 on the week.
• News in sync with a stop hunt: USD ISM Manufacturing PMI; JPY BoJ Governor Ueda speech.

NFP stop hunt: how to read these chart markups

A quick key for new readers. These charts use reverse price action, which is reverse psychology applied to the chart: the textbook breakout is treated as the trap, not the trade. The Asian range (blue box) is where retail marks support and resistance. The retail stop losses (red crosses) rest just beyond it. The stop hunt (hatched zone) is price collecting them, and the pips figure in the header is the reversal that followed. Start with How to Read a Forex Chart Markup.

The week at a glance: confluence ranking

Every daily setup of the week on one page, best first. The score is a tally of the eight confirmations the method lists, and the last column says what the rest of the week did with each level. USDJPY leads with 4 of 8.

The weekly cycle: induction, trap, reversal

No market showed a weekly cycle this week. Not one of the eight made a high or low on Tuesday, Wednesday or Thursday and then reversed by at least 1.25 average daily ranges, so there is no weekly chart to draw. That happens: the cycle is a concept that adds confidence when it appears, not a rule every week obeys. The daily setups below stand on their own.

Setup of the week: EURUSD M formation, 5 June 2026

EURUSD spent the Asian session in a 14-pip range between 1.16090 and 1.16226. London then broke the high of that range by 17 pips, to 1.16398 at 04:15 New York: the breakout the crowd buys. Price pulled back to a neckline at 1.16345, then ran a second leg to 1.16442 at 05:15 New York, 4 pips past the first leg. That second leg is the stop hunt. It took the stops resting above the first leg and trapped everyone who bought the new high. From there price reversed 126 pips to 1.15179 in 10h 45m, through the whole Asian range.

Now read it in reverse. At each of those prices, whose orders were waiting?

Where the retail stops were

• Sellers' stops above the Asian high, 1.16226: taken by the first leg.
• Buyers' stops below the neckline, 1.16345: taken as the reversal broke it.
• Buyers' stops below the Asian low, 1.16090: taken as the reversal cleared the range.

The trade. The method sells against the breakout, on the second leg at the high of the day (1.16442). The stricter trigger, the first 15-minute close back inside, came with 5 pips of risk to the extreme and 121 pips to the low of the day, about 1 to 24. The method skips anything under 1 to 3, so from that trigger this one qualifies. These numbers are measured after the fact from 15-minute candles.

Confirmations: 1 of 8. It had a second-leg stop hunt. Missing: a clear Asian range, a hunt at a session open, the previous day's level taken, high-impact news in sync, a Tuesday or Wednesday date, the high or low of the week and induction from the week's open. The high held for the rest of the week.

The rules for this pattern are in How to Read a Forex Chart Markup. For the same M formation on EURUSD, see EURUSD stop hunt, week of 28 September 2026.

Textbook setups, day by day

A setup is textbook when the reversal clears the whole Asian range, or runs at least three quarters of the pair's average daily range. The daily cycle behind all of them, Asia consolidating, London breaking out and the reversal after, is covered in How to Read a Forex Chart Markup.

Monday · GBPUSD · W formation (63 pips). The second leg took the stops below the first leg at 1.34065 (10:00 New York, 2 pips through Friday's low); price reversed 63 pips, back inside the Asian range. Confluence 4 of 8. Friday traded back through it.

Tuesday · USDCAD · Both sides hunted (39 pips). London took the stops above the Asian high at 1.38537 (05:15 New York, 5 pips through Monday's high); price reversed 39 pips, through the whole Asian range. Then the other side was hunted at 09:30 New York, 17 pips under the Asian low. Confluence 4 of 8. Wednesday traded back through it.

Tuesday · EURUSD · Both sides hunted (42 pips). New York took the stops above the Asian high at 1.16555 (08:30 New York); price reversed 42 pips, through the whole Asian range. Then the other side was hunted at 14:15 New York, 14 pips under the Asian low. Confluence 2 of 8. The high held for the rest of the week.

Wednesday · USDJPY · W formation (73 pips). The second leg took the stops below the first leg at 159.365 (04:30 New York); price reversed 73 pips, through the whole Asian range. Confluence 4 of 8. The low held for the rest of the week.

Thursday · USDCAD · Both sides hunted (44 pips). London took the stops above the Asian high at 1.39248 (03:30 New York); price reversed 44 pips, through the whole Asian range. Then the other side was hunted at 09:45 New York, 6 pips under the Asian low. Confluence 2 of 8. Friday traded back through it.

Friday · USDCHF · London stop hunt (96 pips). London took the stops below the Asian low at 0.78717 (03:30 New York); price reversed 96 pips, through the whole Asian range. Confluence 1 of 8. The low held for the rest of the week.

Friday · AUDUSD · London stop hunt (106 pips). London took the stops above the Asian high at 0.71434 (06:30 New York); price reversed 106 pips, through the whole Asian range. Confluence 1 of 8. The high held for the rest of the week.

Friday · GBPUSD · M formation (153 pips). The second leg took the stops above the first leg at 1.34831 (06:30 New York); price reversed 153 pips, through the whole Asian range. Confluence 3 of 8. It was the high of the week.

Friday · NZDUSD · M formation (95 pips). The second leg took the stops above the first leg at 0.58844 (06:30 New York); price reversed 95 pips, through the whole Asian range. Confluence 2 of 8. The high held for the rest of the week.

Friday · USDJPY · W formation (62 pips). The second leg took the stops below the first leg at 159.726 (09:00 New York); price reversed 62 pips, through the whole Asian range. Confluence 2 of 8. The low held for the rest of the week.

Partial setups: the structure without the follow-through

These printed the structure, but the reversal stalled inside the Asian range. They are worth studying for exactly that reason: the trap was real and the payoff was small.

Monday · AUDUSD · W formation (37 pips). The second leg took the stops below the first leg at 0.71342 (10:00 New York); price reversed 37 pips, back inside the Asian range. Confluence 4 of 8. Wednesday traded back through it.

Tuesday · Gold (XAUUSD) · London stop hunt (63 pips). London took the stops above the Asian high at 4541.39 (03:00 New York); price reversed 63 pips, back inside the Asian range. Confluence 2 of 8. The high held for the rest of the week.

Thursday · EURUSD · M formation (37 pips). The second leg took the stops above the first leg at 1.16451 (08:00 New York); price reversed 37 pips, back inside the Asian range. Confluence 3 of 8. The high held for the rest of the week.

Daily and weekly confluence, pair by pair

Each chart pins a pair's daily setups on its hourly chart for the week. The solid line is the move that day, the dashed line is how far it ran before the level was traded back through, and a gold band marks a weekly reversal. The table under each chart ticks the confirmations.

EURUSD. 4 setups, best 3 of 8 (Thursday, M off the high). No midweek reversal.

GBPUSD. 2 setups, best 4 of 8 (Monday, W off the low). No midweek reversal.

USDJPY. 2 setups, best 4 of 8 (Wednesday, W off the low). No midweek reversal.

USDCHF. 1 setup, best 1 of 8 (Friday, London stop hunt at the low). No midweek reversal.

AUDUSD. 2 setups, best 4 of 8 (Monday, W off the low). No midweek reversal.

USDCAD. 4 setups, best 4 of 8 (Tuesday, London stop hunt at the high). No midweek reversal.

NZDUSD. 1 setup, best 2 of 8 (Friday, M off the high). No midweek reversal.

Gold (XAUUSD). 1 setup, best 2 of 8 (Tuesday, London stop hunt at the high). No midweek reversal.

What this week teaches about reverse price action

Our only concern with news is its timing. By the time the jobs report was released, the breakout above the Asian range was hours old and the buyers were already in, with their stops under the London lows. The release did not need to be good or bad. It needed to be big enough to run through those stops, and it was: the reversal candle on EURUSD was more than seven times the size of the candles before it. The trap was set in London, and the news sprang it.

On the news itself: the event gives the crowd its reason, and the chart shows where the orders already were.

Frequently asked questions

What was the best forex setup in the week of 1 June 2026?

By confluence, USDJPY on Wednesday: a W off the low that scored 4 of 8. It moved 73 pips that day and 98 on the week. The low held for the rest of the week.

Was there a midweek reversal in the week of 1 June 2026?

No. None of the eight markets printed a Tuesday-to-Thursday high or low followed by a move of 1.25 average daily ranges the other way.

What is an M formation in forex?

An M formation is a reversal at a high. Price breaks above the Asian range (the first leg), pulls back to a neckline, then makes a second leg slightly above the first. That second leg takes the stops above the first high and traps breakout buyers. The method only trades an M off the high of the day.

Why do stop hunts happen on news releases?

A scheduled release brings the most orders into the market at a known minute. Price is often already sitting next to a level with stops behind it, and the release supplies the volume to take them. The timing of the event matters more than the number.

Related chart markups

• Previous week: USDCAD M formation, week of 25 May 2026
• Next week: USDCAD W formation, week of 8 June 2026
• EURUSD stop hunt, week of 28 September 2026: the same M formation on EURUSD
• USDCHF M formation, week of 29 June 2026: another M formation, on USDCHF
• EURUSD M formation, week of 13 April 2026: the same M formation on EURUSD
• All forex chart markups, week by week
• How to Read a Forex Chart Markup: what every mark on these charts means

Learn to read the chart this way. The Forexia Academy courses cover the Asian range, M and W formations and the weekly cycle step by step. Browse the courses.

These chart markups are made after the fact, for study. They are not signals and not trade advice. Candles: Dukascopy. Economic calendar: FXStreet. All times are New York. Stop-loss positions are the method's reading of the structure, not order-book data.