Today watching closely US fundamental indicators in Forex, as they will determine a strength of retracements on USD/xxx pairs, in particular:

8:30 AM EST US Empire State Business Conditions Index
9:00 AM EST US Treasury International Capital (TIC) Transactions
9:15 AM EST US Capacity Utilization Rate
9:15 AM EST US Industrial Production

In all economic indicators, rising values would have positive effect on US economy and thus will strengthen US dollar.

Regarding technical analysis, EUR/USD pair is set for gains to at least 1.5850 with corrections expected to be supported at 1.5630 - 1.5600 area.

In GBP/USD pair expecting a fall to 2.0000 while 2.0250 - 2.0300 offers resistance. Later a pullback up and retest of 2.0300 is expected with further extension above 2.0350.

AUD/USD pair while below 0.9400 - 0.9420 it will drop to 0.9320 and then even to below 0.9220 in extension.

USD/JPY looks bearish. Major support at 97.20 is now becoming a resistance.

Profitable Forex trades!

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Forex technical analysis

EUR-USD => While 1.5345 - 1.5380 level resists a dip to 1.5285 is possible. Breaking above 1.5435 sets it on a bullish path.

GBP-USD => While trading below 2.0145 price may test support at 2.0080, which if holds will provide an opportunity for a move up to 2.0215, otherwise we will see a dip to 2.0015.

USD-CHF => Anticipating a test of 1.0350 with a following bounce to below 1.0165.

USD-JPY => Expecting a test of 103.90 with a following sell off to 101.80and possibly to 100.70 in extension.

EUR-JPY => Expecting a test of 158.40 with a sell off to 156.90 or lower to 155.90.

EUR-GBP => 0.7590 level should mark the end of a downtrend, a rally then push the price to above 0.7640. Breaking below 0.7570 cancels those expectations.

EUR-CHF => Expecting a test of 1.5790 with a following dip to 1.5675 or lower to 1.5610.

AUD-USD => While trading below 0.9300 - 0.9330 we may see a move down to 0.9225 and possibly 0.9170.

USD-CAD => Support levels are at 0.9820 and 0.9855. Targeting 0.9965. Breaking below 0.9780 damages bullish scenario.

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Forex technical analysis

EUR-USD => Expecting an up move pause at 1.5460 - 1.5430 with a pullback down to 1.5295 and lower. Rising above 1.5480 cancels pullback forecast.

GBP-USD => Up move is expected to pause at 2.0185 - 2.0175 with a pullback down to 1.9950. Rising above 2.0255 cancels pullback forecast.

USD-CHF => While bears are pushing down we may see a test of support levels at 1.0175 or 1.0165 with a main support located at 1.0085.

USD-JPY => Resistance at 103.00 - 103.10 should hold for a drop down towards 102.50 - 101.50.

EUR-JPY => From 157.80 - 157.50 expecting an up move towards 158.40 - 158.65. Later we should see a dip down to 157.00 and lower.

EUR-GBP => While 0.7660 - 0.7675 resists we may see a dip towards 0.7630 or even to 0.7605.

EUR-CHF => while 1.5770 - 1.5795 offers resistance we may see a dip to 1.5680. Later a correction up towards 1.5795 or even 1.5820 is anticipated.

AUD-USD => While support at 0.9260 - 0.9215 is intact we may see a rise to 0.9300 - 0.9350, whic later should result in a downtrend.

USD-CAD => A test of 0.9865 is expected with a following fall to 0.9820 or possibly 0.9790.

Forex Fundamental overview

Time EST

7:00am CAD Employment Change => High Impact Expected. Forecast = 3.0K. Actual higher than that leads to stronger CAD, lower - weaker.

8:30am USD Nonfarm Employment Change => High Impact Expected. Forecast = 25K. Actual higher than that - stronger USD, lower - weaker.

8:30am USD Unemployment Rate => High Impact Expected. Forecast = 5.0%. Actual higher than that leads to weaker USD, lower - stronger.

Profitable Friday in Forex! Watch Nonfarm employment figures closely. Protect your position if needed.

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Forex technical analysis

EUR-USD => While 1.5240 and 1.5205 provides support the pair should move higher to 1.5330. Stops slightly below 1.5170.

GBP-USD => Support at 1.9870 and then at 1.9820 should hold all downside corrections. Expecting additional attempt higher to 1.9945 - 2.0020. Falling below 1.9770 sets downside prospectives.

USD-CHF => Expecting an attempt to reach 1.0420 and possibly 1.0470 providing that 1.0350 - 1.0340 area is intact. If broken to the downside, a huge sell off may take place.

USD-JPY => 104.25 - 104.35 should mark the end of an uptrend with a following pullback to 103.45. Rising above 104.70 cancels expectations for correction.

EUR-JPY => Expecting further up move at least to 159.40 and then possibly to 160.50 presuming that support at 158.30 holds. Later a correction to 158.30 - 157.90 may take place.

EUR-GBP => While trading below 0.7675, the pair may dip lower to 0.7640.

EUR-CHF => Support levels are at 1.5785 and 1.58090. Expecting further up move to 1.5870 and then above 1.5915. Stops are places slightly below 1.5765.

AUD-USD => Expecting a test of test 0.9490 with a following sell off to 0.9270 or even possibly to 0.9190.

USD-CAD => While 0.9880 - 0.9900 resists we have an opportunity to trade downside to 0.9800. Later a pullback higher to 0.9900 -0.9920 is expected.

GBP-JPY => Upside potentials are high. If support at 205.70 holds we may see another attempt to test resistance at 207.70, which if broken sets trade on an upside path.

Forex Fundamental overview

Time EST

7:00am GBP Interest Rate Statement => High Impact Expected. Forecast = 5.25%. If actual comes higher than that - stronger GBP, lower - weaker.

7:45am EUR Interest Rate Announcement => High Impact Expected. Forecast = 4.00%. Higher than that - stronger EUR, lower - weaker.

10:00am CAD Ivey PMI => High Impact Expected. Forecast = 55.0, higher than tat - stronger CAD, lower - weaker.

Profitable Forex trading!

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