Quote of the day: I have not failed. I’ve just found 10,000 ways that won’t work. — Thomas Edison
EURUSD
A busy week is over and a new one has started, hence we shall be ready to continue our trading journey. What’s changed after one week? First of all: the euro is set to gain more ground against the dollar after bouncing off support region around $1.4700, being helped also by gold trading at record highs – weakening the dollar even more. Unemployment figures also stand against the dollar, printing 10.2% unemployment rate and -190k non-farm payrolls. On Friday’s report I mentioned that it was unlikely to expect any break-out as weekend was knocking on the door but this week starts favoring the bulls – euro trading 50 points away from the 1.5000 handle and 100 points below ytd high at 1.5060. Both short-term and intra-day studies are positive and support is formed by the former resistance 1.4850. Potential dips may be limited into the said support zone, re-newing buying appetite. Interim support is also emerging at 1.4900. Current quote is 1.4939 @07:00 GMT
Support: 1.4900, 1.4850, 1.4800 and 1.4700
Resistance: 1.5000, 1.5050/60 and 1.5100
GBPUSD
Cable opened higher and rallied into the 1.67 region, testing offers around 1.6715 while writing these lines. A sustained break above 1.6700 (daily close) would be an important bullish confirmation, opening 1.7000 as next upside objective. An important barrier is seen in between – at 1.6830, which is the median retracement of the whole 2.0155-1.3500 decline. In case of a pullback – 1.6600/35 is expected to provide support. Momentum is bullish in both intra-day and short-term studies. Current quote is 1.6715 @07:00 GMT
Support: 1.6650, 1.6600/35, 1.6550/60 and 1.6500
Resistance: 1.6735/50, 1.6800/30 and 1.6900
