Forex technical overview

EUR-USD => Sideways market conditions prevail. Requires above 1.5730-1.5740 to promote itself higher, while trading below 1.5670 would shift preference lower.

AUD-USD => Strong buying potential remains while trading above 0.9220, requires over 0.9275-80 for gains to extend to 0.9310-20 later.

GBP-USD => Testing hourly down channel resistance at 1.9900, trading above calls for potential back to 1.9960-80 area, trading below 1.9850-60 calls for 1.9810-20.

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Forex Fundamental overview

Nothing much awaits for us in Forex today.

3:00pm USD Consumer Credit m/m => Low impact expected, unless some way odd data comes out.
5:30pm USD Fed Vice Chairman Kohn Speaks => Low Impact Expected
6:00pm NZD NZIER Business Confidence => High Impact Expected
9:30pm AUD NAB Business Confidence => Low Impact Expected

Happy Forex trading!

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!

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.

Profitable Forex trades!

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.