The US stock market made another positive day yesterday as the investors were encouraged by the continuing claim data that showed a decline of 12K, whereas analysts expected a decline of 6K comparing to the previous week. However, today is main event as the Non-Farm payrolls change data & the unemployment rate will published one hour before the opening bell in Wall Street. This data is of the most important indicators of the US economy.
EUR/USD
The Euro is facing the resistance at 1.32 against the USD, and the fact that it is overbought reflects in that it did not rise yesterday, in spite the risings of the stock markets. This indicates that the EUR is close to the point in which it will make an aggressive correction, but the NFP data might push it up in spite all of that. A break-up of the support at 1.325 might lift the Euro up to 1.345-1.35, whereas a break-down of the support of the 20 EMA at 1.30 might cause the declines that the market expects.
EUR/JPY
The Yen keeps strengthening against the USD and it reached the strong support at 76.0. A break-down there might take the price down to the historical low at 75.5, but the Yen showed yesterday signals that the current session might over and the USD could correct.
The strengthening of the Yen is well shown against the EUR as well, but the EUR has corrected against the Yen since the middle of January. There is a possible bullish reversal on the daily chart, though the movement of the EUR depends on the NFP data today. Therefore, a break-up of 100.5-101 will be a strong signal for the EUR and it might jump to 102 and a break-down of the 3-days low at 99.0 might pull the price down to 97.0 again.
EUR/CAD
The CAD has been strengthening against the EUR for several months, but the European currency started corrected against the CAD on the previous months, just as it did against the other major currencies. A bullish reversal appears on here as well, as the pair is supported by the 38% Fibonacci level, at 1.31. A break-up of yesterday's high might take it up to the recent pick at 1.325, but a break-down of the support might push the price downwards to 1.30.
EUR/USD
The Euro is facing the resistance at 1.32 against the USD, and the fact that it is overbought reflects in that it did not rise yesterday, in spite the risings of the stock markets. This indicates that the EUR is close to the point in which it will make an aggressive correction, but the NFP data might push it up in spite all of that. A break-up of the support at 1.325 might lift the Euro up to 1.345-1.35, whereas a break-down of the support of the 20 EMA at 1.30 might cause the declines that the market expects.
The Yen keeps strengthening against the USD and it reached the strong support at 76.0. A break-down there might take the price down to the historical low at 75.5, but the Yen showed yesterday signals that the current session might over and the USD could correct.
The strengthening of the Yen is well shown against the EUR as well, but the EUR has corrected against the Yen since the middle of January. There is a possible bullish reversal on the daily chart, though the movement of the EUR depends on the NFP data today. Therefore, a break-up of 100.5-101 will be a strong signal for the EUR and it might jump to 102 and a break-down of the 3-days low at 99.0 might pull the price down to 97.0 again.
The CAD has been strengthening against the EUR for several months, but the European currency started corrected against the CAD on the previous months, just as it did against the other major currencies. A bullish reversal appears on here as well, as the pair is supported by the 38% Fibonacci level, at 1.31. A break-up of yesterday's high might take it up to the recent pick at 1.325, but a break-down of the support might push the price downwards to 1.30.
Risk Disclosure
Trading and the execution of transactions in currencies, commodities,CFD indexes and other financial products with or without using high financial leverage, is speculative trading of high risk and may cause substantial gain or loss proportional to the size of the collateral, up to the total loss of the collateral sum in a very short period. The fluctuation of the prices and rates in the currency markets, commodities, CFD ,indexes and other financial derivatives are often volatile and there is no accurate forecasting as per the size of the change, its direction and the time frame in which it occurs.You must consider carefully and seriously if this type of financial activity fits your needs, your financial resources and personal circumstances. Since the risk of losing some of the invested funds or all the funds in a relative short period is high; it is recommended that you use for that purpose funds which you designated for speculative financial transactions of high risk.
You acknowledge and fully understand that there may be more and other risks which are not detailed or not cotained above
Everyone is aware of the value of the currency of a country like Iraq. With such massive oil reserves it is going to give a huge come back. Before United State’s invasion of Iraq and toppling of Saddam’s government Iraqi Dinar was trading at USD 3 to one Iraqi Dinar on the strength of the country’s massive oil industry. Click here to know more about iraqi dinar investment
ReplyDelete