- Friday EUR/USD market Started from 1.29680.
- Today the market is not good at both up and downtrend.
- Today the market is still neutral. After some hours it may go to positive or negative trend side.
- The market is waiting for three important news announcements. After the news release the market may go up or down. Pivot-Point Details:
(see fig)
This is the pivot point values for today’s EURUSD. Here Market started from open point-1.29680 and yet the market did not get any trend change.
So after some hours it will touch pivot level-1, 3001, support level S1-1.2915, support level S2-1.2864 and if the news announcements react in the market movement, it may go to the Resistance R1-1.3052 also.
(see fig)
CCI Values:
Today morning market opened time CCI values was in the position of -66.25 and still now it is waiting for news announcement.
So after news announcement we can expect the market to break the downtrend and it may start moving towards the uptrend.
News Details:
Our markets watch team has given the detail about Today’s news Analysis.
FXBase Market analysis team says,
"The three news alerts will change the overall market today .so at this time market go postive or negative side mainly. So we wait for this news reactions today more.
ECB President Draghi Speaks at 10:00(GMT) EUR High Impact news.
Today in his speech he says about which controls the interest rate and he has more influence over the EUR value than any other person. If his judgment is concluded as short term EUR can moves in uptrend, otherwise it moves in downtrend.
Nonfarm Payrolls at 13:30 (GMT) USD High Impact News
Nonfarm Payroll is complied and published by (Bureau of Labor Statistics).It is used to represents the total number of US workers that receive some sort of wage, minus these groups,
1) Farm Workers
2) Private household employees
3) Non-profit organization employees
4) Government employees
It includes approximately 80-85% of all workers in the United States. It is one of many Statistics used to measure the overall health of the economy.
The forecasted value is 93K if the actual value is greater than forecasted value the USD can moves in the uptrend, otherwise it moves in the downtrend.
Unemployment Rate at 13:30 (GMT) High Impact news.
The Unemployment rate is used to measure the total labor force that is unemployed but actively seeking employment and willing to work.
The forecasted value is 7.9% if the actual value is greater than forecasted value the USD can moves in the uptrend, otherwise it can moves in downtrend.
So the final report is after some hours it will touch pivot level-1, 3001, support level S1-1.2915, support level S2-1.2864 and if the news announcements react in the market movement, it may go to the Resistance R1-1.3052 also.
News events may change the forecast, Trade at your own risk. News.fxbase will not be responsible for any kind of loss in your trades.