Don’t waste your time – keep track of how NFP affects the US dollar!

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Follow us on Facebook

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

FBS Mobile Personal Area

FREE - In Google Play

View
EUR/USD regains yesterday's losses

EUR/USD regains yesterday's losses

Information is not investment advice

The US dollar surged yesterday after the positive US data. Manufacturing and Services PMI reports came out better than expected. Besides, analysts marked that it was the first time for a while that the US dollar rose not because of its safe-haven title in times of the risk-off sentiment, but on its self-strength like any other national currency, when its’ economic data beats estimates. Before that, the greenback was on the back foot as investors favored riskier assets amid hopes for soon vaccinations in the USA and the UK.

That’s why yesterday we have seen a 100-pips drop of EUR/USD, caused by the mixed EU PMI reports and the encouraging US data. However, the 50-period moving average has supported the pair again. If it manages to rise above yesterday’s high of 1.1876. the doors towards the key resistance zone of 1.1890-1.1900 will be open. In the opposite scenario, the move below the support of 1.1830 will drive the pair lower to 1.1800.

EURUSDH4.png

The British pound continues edging higher amid hopes for a soon Brexit agreement. EU’s chief negotiator Michel Barnier claimed that even though some disputes are still on the table, both sides are interested in reaching a deal as soon as possible. It dipped briefly yesterday but managed to turn to the upside again. The move above the resistance of 1.3350 will drive the pair to the key psychological mark of 1.3400. Support levels are at yesterday’s low of 1.3300 and the 50-period moving average of 1.3235.

GBPUSDH4.png

Gold enormously dipped. There are no barriers on its way down to the key support of the intersection of the 200-day moving average and the psychological mark of $1 800. XAU/USD is likely to bounce off this level and turn to the upside. It may meet resistance levels at $1 850 and $ 1870 on the way up.

XAUUSDDaily.png

Moving on to the S&P 500. The stock index is edging higher. If it jumps above the resistance of 3 615, the way to the high of November 16 at 3 630 will be open. In the opposite scenario, the move below the 50-period moving average of 3 575 will drive the S&P 500 to the next support of 3 550.

S&P500H4.png

Finally, let’s discuss crude oil. WTI oil surged to August’s highs on hopes for a vaccine rollout in a couple of weeks. If it manages to close above $43.50, it may rise to $45.00. Support levels are $41.60 and $40.00.

WTI_OilH4.png

Follow US CB Consumer Confidence at 17:00 MT time!

Check the economic calendar

Watch our daily trading plan! 

LOG IN

Similar

Popular

Choose your payment system

Learn more

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later