FxWirePro: GBP/AUD edges lower, bearish outlook persists 
DAX & CAC40 Score Perfect 100: Extremely Bullish With Major Levels to Watch as FTSE100 Hits 80 
EURUSD Bulls Charge Higher: Buy Dips at 1.1528 as EMA Alignment Eyes Break Above 1.1560 
FxWirePro: AUD/USD eases as investors await U.S. employment figures 
Gold Hits 6-Week High: Buy Dips at $4220 as Bullish Momentum Eyes $4400 Breakout 
EURGBP Bears Break Trendline: Sell Rallies at 0.8578 as Support Breach Eyes 0.8450 Slide 
FxWirePro: USD/ZAR gains some ground, but downtrend remains 
FxWirePro- Major Pair levels and bias summary 
AUDJPY Bears Poised: Sell Rallies at 111.55 for 108 Target with 112.20 Stop 
NZDJPY Bears Ready to Strike: Sell Rallies at 93 as EMAs Signal Deeper Slide to 90 
FxWirePro: NZD/USD softens despite firm expectations for RBNZ tightening 
FxWirePro: GBP/AUD eases slightly, focus on near-term support 
NZDJPY Bears Lie in Wait: Sell Rallies at 93 for 90 Target with 94 Stop 
FxWirePro: AUD/USD eases slightly as markets await U.S. Payrolls report 
FxWirePro: EUR/ AUD neutral in the near term, scope further downside 
FxWirePro: USD/CNY slips as strong China exports data Lift yuan 
EURUSD gained sharply after dismal US jobs data. The pair hit an intraday high of 1.15808 and showed a minor sell-off. It is currently trading around 1.15392.
The July U.S. labor report showed a severe negative surprise as nonfarm payrolls dropped by 23,000, missing estimates for an 80,000 gain, and month-on-month pay growth slowed to a meager 0.1%, so indicating a fast decline in hiring momentum and labor-cost inflation. Though the unemployment rate dropped to 6.4% unexpectedly, this improvement is probably skewed by a declining labor force rather than actual job growth, which reflects the general weakness of the labor market. Therefore, the mix of declining payrolls and fading inflation pressure strongly supports interest rate cuts by the Federal Reserve, pushing down Treasury yields and the U.S. dollar and so boosting gold and leaving stocks caught between lower rate expectations and remaining recession worries.
|
Technicals |
CMP -1.15392 |
Trend |
|
|
4-hour chart |
Value |
|
|
|
55 EMA |
1.14879 |
CMP>value |
Bullish |
|
200- EMA |
1.14700 |
CMP>value |
Bullish |
|
365- EMA |
1.15023 |
CMP>value |
Bullish |
|
800-EMA |
1.15593 |
CMP>value |
Bullish |
Major support- 1.13700/1.12946. Near-term resistance- 1.4380/1.14800/1.1500/1.1530.
|
Momentum indicator |
Inference |
Value |
|
CCI(50) |
Bullish |
93.58 |
|
ADX |
Neutral |
|
It is good to buy on dips around 1.15600 with SL around 1.15100 for a TP of 1.1660.
