Fx pip signal !! Fx pip signal !! Fx pip signal
Market Brief
The US dollar is back in demand before
the US labor data today. The consensus for September change in NFPs is 215K vs.
142K printed a month ago; the unemployment rate is expected to stabilize at
6.1%. The average earnings will also be closely monitored as the FOMC Chair
Yellen aims for faster growing wages for tighter slack in the labor market. The
US yield curve has flattened over the past week, the 10-year yields are still
below 2.45% despite the broad USD strength across G10 and EM. Today’s data
determine whether the USD has topped or it has room for further gains.
For USD/CAD,
the US labor data and the Canada’s trade balance will be determinant. With
analysts betting for declining trade surplus in Canada (especially due to soft
energy prices) and USD/CAD technicals still pointing the upside, the year-high
1.1279 is at the radar. On the downside, option bids at 1.1000/50 should give
support before the weekly closing bell.
The candle
patterns analysis signals the formation of bullish engulfing pattern (with 5/9
conviction level) on AUD/USD, AUD/CHF and AUD/CAD, bearish engulfing on EUR/AUD
(4/9 conviction). Short-term bullish reversal is expected in the AUD-complex
given the oversold conditions. While the price action on AUD/USD and AUD/CAD is
contingent on North American data, the technicals will play greater role on AUD/CHF
and EUR/AUD direction. A week close above 0.8406 for the AUD/CHF, and below
1.4340 for the EUR/AUD (MACD pivots) should favor deeper correction in favor of
the Aussie on both pairs.
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Suport@fxpipsignal.com
Regards,
Customer Relationship
and Promotion Dept.
FX PIP Signal
support@fxpipsignal.com
Website
http://www.fxpipsignal.com/
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