EUR / USD Current Price: 1.0738
US dollar closed last week at its highest level in a week against all major rivals after the release of positive US employment report is surprising. According to the latest release, the US economy added 271,000 new jobs in October, while the unemployment rate fell to 5.0%, the lowest in seven years. Wages also beat expectations, and now has increased 2.5% annually, paving the way for a rate hike in December. USD rose sharply after the release, and spend all the American session consolidating gains.
Over the weekend, China released the trade balance figures, which showed a surplus of 393.2 billion yuan in October. Exports fell for the fourth consecutive month, while imports fell for twelve consecutive months, in line with the economic slowdown recently. The dollar may rise further, and even gap at the opening, after this news.
EUR / USD dipped to 1.0703, to finally settle at 1.07381, can rise above 1.0760, now a direct short-term resistance. Traded at levels not seen since the end of April this year, the daily chart shows that SMA 20 has passed below the SMA 100 and 200 is far above the current level, while technical indicators present a bearish slope strong, though in oversold territory, all support the decline Furthermore. In the 4 hours chart, momentum indicators aiming higher below the 100 level, while the RSI indicator remained flat at about 24, guard against downside risks, especially on a break below 1.0700.
Support levels: 1.0700 1.0660 1.0625
Resistance levels: 1.0760 1.0800 1.0845
EUR / JPY Current price: 132.26
EUR / JPY fell to 131.44 last Friday, but closed the day quite a lot has changed around 132.30, even in the midst of weakness EUR and JPY against the greenback. However, the couple maintained a bearish tone seen over the past two weeks, as the daily chart shows that it established a lower low below SMA 100 and 200, while technical indicators maintain their bearish slope deep into negative territory. In the 4 hours chart, however, the Momentum indicator aims a little higher above the center line, partially limiting the potential bottom, although at a price far below MA and RSI indicators head south around 45, the possibility of upward movement seems too limited. Immediate support stands at 131.80, with penembuan below may indicate a new monthly lows below 131.00 levels.
Support levels: 131.80 131.30 130.75
Resistance levels: 132.60 133.00 133.45
GBP / USD Current Price: 1.5047
British Pound fell to a fresh 7-month lows against the greenback, and closed the week a few pips above the low 1.5026, after declining last week. Negative surprise given by the BOE, delaying interest rate hikes in the UK, and the US employment report that is circulating, triggering chances rise in December, highlighting the imbalance between the Central Bank, which leads to a decline of 360 pips in two days. Decrease stop a few pips above the kritis1,5000, but the risk of a break below it has grown exponentially, and can generate a retest of the 1.4565 low before the end of the year. Technically, the daily chart supports the bearish continuation, given that the price stands now well below 20 SMA, while maintaining the technical indicators bearish sharp slope approaching oversold levels. In the 4 hours chart, technical indicators have partially restore the negative tone, but remained in extreme oversold territory, far from the impression of corrective upward movement.
Support levels: 1.5000 1.4970 1.4930
Resistance levels: 1.5080 1.5130 1.5160
USD / JPY Current price: 123.15
The pair USD / JPY staged a sharp rally, posted the biggest weekly gain in more than six months, and closed at 123.15, a few pips below the 123.26 high. This pair has been in demand ahead of the release of the US employment report, after starting the day in the top DMA 100 and 200 for the first time since the end of August, and has been driven by a strong reading, supporting the rise in US interest rates for December. From a technical perspective, the daily chart shows that, despite having advanced above mentioned MA, lack the power directional ago, still flat and in the range of 20 pips. Technical indicators, however, presents a strong upward momentum in overbought territory, in line with the sustained rise. Short-term, the 4 hours chart shows that the technical indicators have lost power over them and turned lower, but they are still in extreme overbought levels. Given the limited retracement of high and tight consolidation approach, the risks remain to the upside, with the market now targeting this year's high at 125.80.
Support levels: 122.80 122.50 122.20
Resistance levels: 123.35 123.80 124.25
AUD / USD Current Price: 0.7041
The Australian dollar last Friday to start moving upward, following the release of a variety of Minutes of the RBA, but eventually succumbed to the power of the dollar, with AUD / USD ended the week at 0.7041. Reserve Bank of Australia offers a relatively optimistic outlook for the economy, but at the same time lowering their inflation and growth forecasts. Daily chart for the pair shows that, after a decline of 20 SMA bearish last week, prices have accelerated the decline, while technical indicators have turned sharply lower below their midlines, supporting a further decline this week, especially after the release of trade balance data China bad over the weekend. Short-term, the 4 hours chart shows that the momentum indicator has risen some from oversold levels, but the RSI indicator was flat in oversold levels, leaving little room for recovery in the short term.
Support levels: 0.7030 0.6980 0.6940
0.7070 0.7110 0.7150 resistance level
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