Category: Technial Analysis
Type: Bullish BounceKey Levels:Resistance: 116.327Pivot: 115.624Support: 115.332Preferred Case:Prices are on bullish momentum and abiding to our bullish channel. We see potential for a buy from our Pivot at 115.624 in line with 50% Fibonacci retracement and 23.6% Fibonacci retracement towards our 1st resistance at 116.327 in line with 127.2% Fibonacci extension. Ichimoku clouds are showing […]
Type: Bullish BounceKey Levels:Resistance: 1.27905Pivot: 1.27067Support: 1.26655Preferred Case:With price moving within the ascending channel, we have a bullish bias that price will rise to our 1st resistance at 1.27905 which is in line with horizontal swing high resistance and 78.6% Fibonacci retracement from pivot at 1.27067, which is in line with horizontal swing low support […]
US Data In FocusToday’s US labour reports for December hold the potential to drive the first major Dollar move of the year. It’s been a quiet start for the greenback as traders await the release of today’s data. Earlier in the week, the December FOMC minutes confirmed that the Fed is now firmly in hawkish […]
Credit AgricoleAsia overnightUST yields are a little lower ahead of the non-farm payrolls data and following the soft US non-manufacturing ISM data. This helped support sentiment during the Asian session. Most Asian bourses and S&P 500 futures were trading higher at the time of writing. G10 FX traded in tight ranges with the NOK and […]
• EURUSD reversed from key support level 1.1265 • Likely to rise to resistance level 1.1380 EURUSD currency pair recently reversed up from the key support level 1.1265 (lower boundary of the sideways price range from the middle of December). The upward reversal from the support level 1.1265 started the active short-term impulse waves C. […]
Nonfarm payrolls in the United States increased much less than expected in December, while the unemployment rate fell. The December employment data showed a 199,000 gain in nonfarm payrolls, significantly behind the 450,000 jobs growth projected in a Bloomberg survey, while November payrolls received a minor upward revision to a 249,000 increase. Private payrolls increased […]
Oil prices turned lower during trading on Friday, with Brent crude falling below $ 82, but it is still on track to achieve weekly gains, driven by supply concerns amid escalating unrest in Kazakhstan and outages in Libya. Investor sentiment was negatively affected, with the US economy adding 199,000 jobs less than analysts’ expectations in […]
The rush in the markets after the Fed minutes has somewhat subsided and investors are turning their eye on the release of US labor market data today. According to the consensus forecast, the economy added 400K jobs while wages rose 0.4% on a monthly basis. The ADP report released on Wednesday, which more than doubled […]
Trading Today’s NFP ReleaseGiven the built up hawkish expectations heading into today’s NFP release (you can find a fuller briefing here) it’s important to also consider what we might see play out should any of the data miss the mark. As I touch on quite regularly, when the market is looking so heavily in one […]
• AUS200 index reversed from round resistance level 1000.00 • Likely to fall to support level 910.00 AUS200 index recently reversed down with the daily Bearish Engulfing from the major resistance 7645.00 (earlier multi-month high from August) – which started the active wave (ii). The resistance zone near resistance 7645.00 was strengthened by the upper […]
