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Testing the Trend Line Support

Published 12/07/2011, 05:18 AM
Updated 07/09/2023, 06:31 AM
EUR/USD
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GBP/USD
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USD/CHF
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4280
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Switzerland

USD/CHF:

There is no significant change since yesterday, the pair continued to trade higher during the previous US Session, while the Asian Session came in with a stabilization mode, as the pair traded between 0.9264 and 0.9248, while the general trend remains to the upside, after the pair tested its trend line support which stands at 0.9190 along the day, and technical indicators remain positive, the pair may extend its gains above 0.9300.

Unemployment Rate: The total change in the labor force who have lost their jobs and are still looking for a new job, the index has a significant impact on the markets as its directly correlated with the monetary policy, as lower unemployment usually create growth and vice versa.

Euro Zone

EUR/USD: The European currency continued to stabilize during the past few days between 1.3400 and 1.3350, while today the pair ticked higher above that range but remains steady at 1.3420, with lack of key economic figures today, the pair may extend its stabilization mode, while the general trend remains to the downside along the week.

Trade Balance: The change in the total value between the exports and the imports along the reported month, the index has a significant impact on the markets especially if the deficit continues to soar further.

Industrial Production: The total change in the value of industrial production produced by the manufacturing and industrial sector during the reported month.

United Kingdom

GBP/USD: Same as the European currency, the British pound closed yesterday trading lower, but failed to break below 1.5590 which represents 23.6% retracement, while technical indicators are almost flat, in the meantime, the pair will be waiting for some key figures today which may lead to a significant impact especially if it comes with disappointing figures.

Manufacturing Production: The total change in the value of manufactured goods during the reported month, the index has a significant impact on the markets as manufacturing sector is directly correlated with many of the leading indicators of the economy which effect the total growth of the economy.

Industrial Production: The total change in the value of industrial production produced by the manufacturing and industrial sector during the reported month.

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