US Session Bullet Report
Despite NFP numbers coming short at 173k versus 215k expected, US unemployment fell to its lowest level since April 2008 at 5.1% versus 5.2% expected.
Markets for a moment reacted to NFP numbers but, USD seems to be the winner initially following the news as USD is trading up against its major counterparts. EURUSD is again testing 1.1100 mark with its next support at 1.1085.
Investors will be assessing market sentiment as despite lower than forecast NFP numbers, the US added a good number of jobs to further add weight that the economy is on course to reach its estimates on GDP and inflation.
Monday will be very light news wise so markets will likely be driven on sentiment and technicals.
From everyone at easy forex, we wish you a pleasant weekend.
Trading Quote of the Day:
“anybody who says that money is the root of all evil, doesn’t have any”
EURUSD
Pivot: 1.1175
Likely scenario: Short positions below 1.1175 with targets @ 1.1085 & 1.105 in extension.
Alternative scenario: Above 1.1175 look for further upside with 1.121 & 1.126 as targets.
Comment: The RSI lacks upward momentum.
GBPUSD
Pivot: 1.529
Likely scenario: Short positions below 1.529 with targets @ 1.5215 & 1.5165 in extension.
Alternative scenario: Above 1.529 look for further upside with 1.534 & 1.538 as targets.
Comment: The RSI is mixed to bearish.
AUDUSD
Pivot: 0.702
Likely scenario: Short positions below 0.702 with targets @ 0.695 & 0.69 in extension.
Alternative scenario: Above 0.702 look for further upside with 0.7065 & 0.7095 as targets.
Comment: The RSI is mixed to bearish.
USDJPY
Pivot: 119.7
Likely scenario: Short positions below 119.7 with targets @ 118.4 & 117.8 in extension.
Alternative scenario: Above 119.7 look for further upside with 120.2 & 120.65 as targets.
Comment: The RSI is mixed to bearish.
USDCAD
Pivot: 1.3245
Likely scenario: Short positions below 1.3245 with targets @ 1.3175 & 1.313 in extension.
Alternative scenario: Above 1.3245 look for further upside with 1.329 & 1.3325 as targets.
Comment: As long as the resistance at 1.3245 is not surpassed, the risk of the break below 1.3175 remains high.
Leave A Comment