- The Report on the Employment issues by the BLS
- GBPUSD moves toward trendline (and other) support at 1.5360-85 area.
- USDJPY falls after failing to advance above resistance area
- The EURUSD remains below resistance but range is still limited
- Gold tests resistance at 38.2% and finds respectful seller on the 1st test
- Feds Dudley on the Wires
- EURUSD falls further on the back of the strong NFP report
- US Nonfarm, Unemployment, Manufacturing Payrolls All on the Uprise
- US Unemployment better than expected. Revisions down 20K
- EURUSD in narrow range. Room to roam
- Fitch downgrades Hungary to BB+
- Fitch Downgrades Hungary To BB+, With Negative Outlook
- US Unemployment report awaited. Key information and levels for major pair.
- US Nonfarm Payrolls, Unemployment Rate, Average Hourly Earnings Data Due at 8:30AM
- Canada Unemployment comes in a little weaker than expected
Posted: 06 Jan 2012 07:35 AM PST
For those who may be interested…..
Posted: 06 Jan 2012 07:05 AM PST
The GBPUSD has been in a range since mid November. The high has been at 1.5781. The low at 1.5360. Along the bottom there is a trendline that discounting the failed break at the end of December, comes in at 1.5385. The price is testing this level now and should provide some support for the pair.
A break will of course target the failed break low at the 1.5360 level. A break of that should open the door for additional selling momentum with the next longer term target being the 2011 low at the 1.5270 level.
Looking at something shorter, the 5 minute chart has a channel low targeting the 1.5378 area today.
Putting all the pieces together, there is support at 1.5360, 1.5378 and 1.5385. I would expect some profit taking against this area on dips with stops on a break of the 1.5360 level.
Posted: 06 Jan 2012 06:33 AM PST
The USDJPY moved up and through the 200 hour MA (green line in the chart above) but could not breach the 50% of the move down from the December 28th high to the low. Sellers came in and now the market is down toward the days low at the 77.00 level. I would expect buyers against the low with a move above the 77.15 level being a good development for the pair today.
Posted: 06 Jan 2012 06:27 AM PST
Posted: 06 Jan 2012 06:14 AM PST
Gold is moving toward resistance at the 1629.54 level. This is the 38.2% of the move down from the Novmber high. Not far from that level is the 200 day MA at the 1633 level.
The price high today came in at 1628.70 and found the as expected sellers on the first test. The range for the day is still narrow and an extension can be anticipated. Traders will like to see the low hold support (1616 level). A move below will not be welcomed for the short term at least.
Posted: 06 Jan 2012 06:02 AM PST
Posted: 06 Jan 2012 05:42 AM PST
The EURUSD has fallen on the back of the stronger NFP report and approaches the 1.2722 level next target at the 1.2722 level. Traders will be watching the the 1.2748 level above. This was the 150% of the Dec 29 to Jan 3rd move. Staying below this close level will keep the bears in control. A move above will target the 1.27585 level which is the 38.2% of the days range. The bears remain in control. The buyers have to prove they can move the price higher.
Posted: 06 Jan 2012 05:31 AM PST
Change in Nonfarm Payrolls: Survey: 155K Actual: 200K Prior: 120K Revision: 100K
Change in Private Payrolls: Survey: 178K Actual: 212K Prior: 140K Revised: 120K
Change in Manufacturing Payrolls: Survey: 6K Actual: 23K Prior: 2K Revised: 1K
Unemployment Rate: Survey: 8.7% Actual: 8.5 % Prior: 8.6%
Avg Hourly Earning (MoM) All Emp: Survey: 0.2% Actual: 0.2% Prior: 0.1%
Avg Hourly Earning (YoY) All Emp: Survey: 2.1% Actual: 2.1% Prior: 1.8%
Avg Weekly Hours All Employees: Survey: 34.3 Actual: 34.4 Prior: 34.3
Posted: 06 Jan 2012 05:31 AM PST
Posted: 06 Jan 2012 05:23 AM PST
With the high to low range narrow, there is room to roam in the EURUSD today. The l.2773 level is the 138.2% of the move ups from the December 29th low to the January 3rd high. This level stopped the decline yesterday and will be a focus level today. Below that level, the next targets are 1.2748, 1.2722 and below that a look toward 1.2682 is my next target level. On the daily chart below the bottom channel trendline comes in at 1.2570. On the topside, the 1.2831 level will be the first target, followed by the 1.2857 level. The 1.2904 level will be the next target followed by the 100 and 200 hour MAs (blue and green lines in the chart above).
Posted: 06 Jan 2012 05:15 AM PST
Posted: 06 Jan 2012 05:13 AM PST
Posted: 06 Jan 2012 05:05 AM PST
Posted: 06 Jan 2012 04:12 AM PST
Posted: 06 Jan 2012 04:04 AM PST
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