Wall Street finished in the green with the Non Form Employment Change coming out better than expected. The Dow Jones rose by 1.40% and the NASDAQ added 1.64% to its value. The US dollar traded higher against most major currencies as investors believe that the Fed may raise the interest rate sooner than expected due to the positive Non Farm Payroll result. The Unemployment rate came out at 4.9% vs. 4.8% forecast. Gold rose, to close at $1,265 an ounce. Crude Oil fell, to close at $45.15 a barrel.
The euro fell versus the dollar, to close at 1.1047. According to the daily chart, the pair has crossed below the bullish trendline with MACD below 0. Maintaining these conditions may drop the pair towards 1.0950. However, breaching the trendline may start a reversal towards 1.1250. Today, the Italian Industrial Production is expected at 0.1% vs. 0.5% previously. The pound rose versus the dollar, to close at 1.2956. According to the 1-hour chart, the pair is trading in a channel between the resistance of 1.3015 and the support of 1.2880 with the RSI indicator below 50. Breaching the resistance may lift the pair towards 1.40. Breaking below the support level may cause a drop towards 1.20.
© Prabhu for Forex Videos, 2016. |
Permalink |
No comment |
Add to
del.icio.us
Post tags: Forex video, news
Feed enhanced by Better Feed from Ozh
Disclaimer: Please note all prices are for information only, they should not be relied upon for accuracy or trading. All prices quotes are based on CFD prices and are similar though not always identical to real exchange prices. STOCKTRKR or anybody connected with STOCKTRKR will not accept any liability for loss or damage arising from use of any information/commentary/charts or articles which is provided 'as is' for educational purposes only, nothing contained on this website should be considered as investment advice - please seek proper investment advice from registered financial broker or institution if you wish to trade on global markets and ensure you are familiar with the risks.
