Elliott Wave International Editorial Staff
Elliott Wave International
The Oct. 15 U.S. Short Term Update said: "The financial press and most talking heads need to find some outside causality to 'explain' why a particular market move occurs." Learn why acting on analysis from "talking heads" can lead you astray.
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Editors’ Picks
Euro rolling into Asia pressuring the 1.1103 resistance
EUR/USD, on the daily chart, is trading in a downtrend below the 200-day simple moving average (DMA). However, since the start of December, the market is spiking up to the 1.1103 resistance.
GBP/USD: 1.3180 holds the key to further upside
GBP/USD traders modestly changed around 1.3160 by the press time of early Asian session on Friday. That said, overbought conditions of the 14-day Relative Strength Index (RSI) and the recent stop in north-run make buyers doubtful.
USD/JPY resumes decline after faltering around 109.00
The USD/JPY is ending the day with modest losses, as despite encouraging words from US trade representatives, there’s nothing new on a trade deal with China.
Editors’ Picks
Euro rolling into Asia pressuring the 1.1103 resistance
EUR/USD, on the daily chart, is trading in a downtrend below the 200-day simple moving average (DMA). However, since the start of December, the market is spiking up to the 1.1103 resistance.
GBP/USD: 1.3180 holds the key to further upside
GBP/USD traders modestly changed around 1.3160 by the press time of early Asian session on Friday. That said, overbought conditions of the 14-day Relative Strength Index (RSI) and the recent stop in north-run make buyers doubtful.
USD/JPY resumes decline after faltering around 109.00
The USD/JPY is ending the day with modest losses, as despite encouraging words from US trade representatives, there’s nothing new on a trade deal with China.
US Non-Farm Payrolls November Preview: Labor market continues to defy concerns
Non-farm payrolls are predicted to rise 180,000 in Nov following Oct’s 128,000 increase. The unemployment rate is expected to be unchanged at 3.6%. Hourly earnings will gain 0.3% in Nov after October’s 0.2% increase and annual earnings will be stable at 3.0%.
XAU/USD hesitates near $1480/oz resistance
Gold kicked off December with a bullish reversal to the 1480 resistance. Just above the level the 50 and 100-day simple moving averages (SMAs) are also acting as dynamic resistances.
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