Don’t waste your time – keep track of how NFP affects the US dollar!
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A lot of news came out that may impact the market. It’s surely not the time to rely only on technical analysis!
EUR/USD is aggressively moving upwards. It has broken through the key resistance of 1.2000 and approached the next barrier of 1.2100, which is a round number and also the peak of the 2017 year. If it manages to cross it, the way up to the 1.2150 will be clear. On the flip side, the move below the key support of 1.2000 will drive the pair to the 50-period moving average of 1.1925.
XAU/USD moved to the upside, but its growth was limited by the 50-period moving average of $1 815. If it manages to break through this resistance, it may jump to the 100-period moving average of $1 845. In case of falling, the pair will meet the strong support of the 200-day moving average at $1 800, and it’s likely to pull back from it. The breakout of this level will lead gold to the next support of $1 770.
The Australian dollar was underpinned by the better-than-expected GDP. If it breaks through Monday’s high of 0.7400 the way up to 0.7450 will be open. Support levels are at the recent lows of 0.7350 and 0.7325.
USD/CNH is moving back and forth inside of the horizontal corridor. Since it has touched the bottom and candlesticks have formed longer lower tails, we can expect the move up. On the way to the top of the range, it may meet the resistance of the 50-period moving average at 6.5700. Support levels are 6.5450 and 6.5350.
Follow the US ADP report at 15:15 MT time and the speech of Jerome Powell at 17:00 MT time.
Commodities (iron ore, oil) and commodity-linked currencies (AUD, CAD) surged. West Texas Intermediate has reached $75 a barrel, while Brent rose to the highest mark since October 2018.
Although Jerome Powell’s speech sounded hawkish on Wednesday, September 22, markets did not get scared and the main stock indices got bought back…
The Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!
Commodities (iron ore, oil) and commodity-linked currencies (AUD, CAD) surged. West Texas Intermediate has reached $75 a barrel, while Brent rose to the highest mark since October 2018.
Although Jerome Powell’s speech sounded hawkish on Wednesday, September 22, markets did not get scared and the main stock indices got bought back…
Turkey’s central bank governor was at a crossroads: to hold interest rates and take a risk to be fired like it was for three governors before him, or to comply with the president, to cut rates, and to risk the market. Let’s find out, how to react to the rate cut.
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