EUR/USD hit our first target at $1.2625. Better than expected euro zone PMIs supported the pair, but there’s potential for lower euro as the ECB will release the bank stress tests results on Sunday. Resistance is at $1.2700 and $1.2740. Downside targets lie at $1.2605. A break lower will lead the pair to $1.2585 and level in the $1.2500 area. On Friday watch German GfK consumer climate and US new home sales.
GBP/USD continues forming a local high at $1.6185: the pair tested the 1.6000 mark in Europe as UK retail sales figures came out much worse than expected. Retail sales fell by 0.3% in September after growing by 0.4% in August. The major risk event on Friday is the Q3 GDP release. Economic growth is forecasted to slow down from 0.9% in Q2 to 0.7% in Q3.
USD/JPY pushed higher towards the 108.00 mark after the upbeat US jobless claims report. For now this mark acts as a resistance – this is 61.8% Fibonacci from the recent decline. The price broke above the important 107.50/30 resistance, but we would like to see a daily close above this level to confirm the strength of the buyers.
We see a congestion of candles on the daily AUD/USD chart. It resembles a diamond pattern, but trading a breakout in this pair right now is risky.
GBP/USD continues forming a local high at $1.6185: the pair tested the 1.6000 mark in Europe as UK retail sales figures came out much worse than expected. Retail sales fell by 0.3% in September after growing by 0.4% in August. The major risk event on Friday is the Q3 GDP release. Economic growth is forecasted to slow down from 0.9% in Q2 to 0.7% in Q3.
USD/JPY pushed higher towards the 108.00 mark after the upbeat US jobless claims report. For now this mark acts as a resistance – this is 61.8% Fibonacci from the recent decline. The price broke above the important 107.50/30 resistance, but we would like to see a daily close above this level to confirm the strength of the buyers.
We see a congestion of candles on the daily AUD/USD chart. It resembles a diamond pattern, but trading a breakout in this pair right now is risky.
Recommended Content
Editors’ Picks
AUD/USD regains the constructive outlook above the 200-day SMA
AUD/USD advanced strongly for the second session in a row, this time extending the recovery to the upper 0.6500s and shifting its focus to the weekly highs in the 0.6580-0.6585 band, an area coincident with the 100-day SMA.
EUR/USD keeps the bullish performance above 1.0700
The continuation of the sell-off in the Greenback in the wake of the FOMC gathering helped EUR/USD extend its bounce off Wednesday’s lows near 1.0650, advancing past the 1.0700 hurdle ahead of the crucial release of US NFP on Friday.
Gold stuck around $2,300 as market players lack directional conviction
Gold extended its daily slide and dropped below $2,290 in the second half of the day on Thursday. The benchmark 10-year US Treasury bond yield erased its daily losses after US data, causing XAU/USD to stretch lower ahead of Friday's US jobs data.
Bitcoin price rises 5% as BlackRock anticipates a new wave of capital inflows into BTC ETFs from investors
Bitcoin (BTC) price slid to the depths of $56,552 on Wednesday as the cryptocurrency market tried to front run the Federal Open Market Committee (FOMC) meeting. The flash crash saw millions in positions get liquidated.
FOMC in the rear-view mirror – NFP eyed
The update from May’s FOMC rate announcement proved more dovish than expected, which naturally weighed on the US dollar (sending the DXY to lows of 105.44) and US yields, as well as, initially at least, underpinning major US equity indices.