EURUSD
Be extra careful with trading today as the NFP and unemployment levels will have a major impact on the Forex market.
4 hour EURUSD:
If further downside occurs then the wave 5 (dark red) would become extended. Breakouts (red arrows) could occur below support (purple trend line) down towards the Fibonacci targets.
60 min EURUSD:
GBPUSD
A bearish wave 3 (magenta) could potentially translate into a decline towards the 161.8% or 261.8% Fibonacci targets. The latter is equal to the weekly bottom (green line).
4 hour GBPUSD:
This week’s bearishness is creating an extended 5th wave (dark red) of wave 3 (magenta).
60 min GBPUSD:
USDJPY
The burst of price momentum stopped at the resistance trend line (purple) and Fibonacci target.
4 hour USDJPY:
A potential 5 (purple) could occur today or next week.
60 min USDJPY:
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EUR/USD hovers near 1.0700 ahead of US data
EUR/USD struggles to build on Wednesday's gains and fluctuates in a tight channel near 1.0700 on Thursday. The US Dollar holds its ground following the Fed-inspired decline as market focus shifts to mid-tier US data releases.
GBP/USD holds steady above 1.2500 following Wednesday's rebound
GBP/USD stays in a consolidation phase slightly above 1.2500 on Thursday after closing in the green on Wednesday. A mixed market mood caps the GBP/USD upside ahead of Unit Labor Costs and Jobless Claims data from the US.
Gold retreats to $2,300 despite falling US yields
Gold stays under bearish pressure and trades deep in negative territory at around $2,300 on Thursday. The benchmark 10-year US Treasury bond edges lower following the Fed's policy decisions but XAU/USD struggles to find a foothold.
Top 3 Price Prediction BTC, ETH, XRP: Altcoins to pump once BTC bottoms out, slow grind up for now
Bitcoin reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple coils up for a move north as XRP bulls defend $0.5000.
Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.