Fri, Nov 6 2009, 07:01 GMT
by Liviu Flesar
Quote of the day: We cannot truly plan, because we do not understand the future – but this is not necessarily a bad news. We could plan while bearing in mind such limitations. It just takes guts. – Nassim Nicholas Taleb
EURUSD
The euro holds steady and yesterday’s range has been 30% tighter than average but the 100 points gain was just enough to close above 1.4850 which is an important bullish confirmation, hence short-term sentiment turning positive. Intra-day studies are also bullish and more upside action is likely. However, since it is Friday already I think it is not the right day to look for rallies past the 1.5000 mark – a range of 1.48-1.5 seem more likely today. Today’s Unemployment data release in the U.S. is the most important event and may cause some wild price action. The NFP is expected to print -165k while the Unemployment Rate is expected to come close to 10% – at 9.9%, increasing from last month’s 9.8%. Here is a clear image of unemployment from 2004 to present (source: Flowingdata.com via The Big Picture). Current exchange rate is 1.4870 @07:00 GMT
Support: 1.4850, 1.4800, 1.4740/50 and 1.4700
Resistance: 1.4930/50, 1.5000 and 1.5050/60
GBPUSD
Cable managed to climb higher against the dollar on yesterday, reaching a daily high at 1.6635 – where resistance was formed by the falling trend line coming from 1.7040 through 1.6695 as seen in the daily chart below. Short-term sentiment is bullish and more gains are likely, 1.6700 being the next objective – followed by 1.7000 a bit higher. On the lower side, support starts at 1.6550, backed by 1.6500 and 1.6400. As long as 1.6400 stays on the South region – upside will be favored, short-term bullishness remaining intact. Current exchange rate is 1.6588 @07:00 GMT
Support: 1.6550, 1.6500 and 1.6400
Resistance: 1.6635/50, 1.6700 and 1.6800
Have a great day and happy trading!
Published on Fri, Nov 6 2009, 07:01 GMT
InnerFX
| 10 Victoriei Blvd., Sibiu, 550024
http://www.innerfx.com | info@innerfx.com
FX View - Headline unemployment rate creates dollar shocker Interactive Brokers LLC
Fri, Nov 6 2009, 18:41 GMT
Forex Daily Overview - USD mixed, unemployment rises to 10.2% Easy Forex
Fri, Nov 6 2009, 18:31 GMT
Forex Daily Analysis - USDJPY is moving towards support level at 89.55 Investija.com
Fri, Nov 6 2009, 14:35 GMT
Forex Technical Report - U.S. Markets Brace for Jobs Data ForexHound.com
Fri, Nov 6 2009, 13:29 GMT
Forex Technical Report - Dollar Trading Lower Ahead of U.S. Jobs Data ForexHound.com
Fri, Nov 6 2009, 13:19 GMT
Forex: EUR/USD: Euro post weekly gains
FXstreet.com | Fri, Nov 6 2009, 22:49 GMT
CURRENCIES: Dollar Dips Vs. Yen As Jobs Data Have Fed On Hold
Dow Jones | Fri, Nov 6 2009, 22:14 GMT
U.S. markets ended with small gains, up for the week; Dollar mixed
FXstreet.com | Fri, Nov 6 2009, 21:32 GMT
Forex: GBP/USD: Cable hovering around 1.6600
FXstreet.com | Fri, Nov 6 2009, 20:34 GMT
CURRENCIES: Dollar Dips Vs Yen As Jobs Data Has Fed On Hold
Dow Jones | Fri, Nov 6 2009, 20:25 GMT
GET CASH BACK FOR YOUR TRADES! Learn more about the Pip Rebate Program