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EURUSD declined after upbeat US ISM services PMI. It hit a low of 1.10080 a the time of writing and is currently trading around 1.10163.
Intraday bias remains bearish as long as support 1.10850 holds.
|
Date |
Time (GMT) |
Currency |
Event |
Actual |
Forecast |
Previous |
Impact |
|
Oct 3rd 2024 |
12:30 pm |
US |
Unemployment claims |
225K |
222K |
218K |
Negative for US dollar |
|
|
2 pm |
US |
ISM services PMI |
54.9 |
51.7 |
51.5 |
Positive for US dollar |
Technicals-
The pair trades below 34- and 55 EMA in the one-hour chart.
The near-term resistance is around 1.10600, a breach above targets 1.10850/1.11050/1.1150. Major bullish continuation only above 1.1150. A jump above will take the pair to 1.11780/1.12150. The immediate support is at 1.1000, any violation below will drag the pair to 1.0945/1.0900.
Indicator ( hourly chart)
CCI (50)- Bearish
Average directional movement Index - Bearish. All indicators confirm a bearish trend.
Sell on rallies around 1.10480-500 with SL around 1.10850 for TP of 1.09250.
