Analyst
Bearish Preference: Sell position is envisaged if price trades below 30951 with take profit at 30800
Bullish Preference: Buy position is envisaged if price trades above 31056 with take profit at 31135
Average Hourly Earnings m/m (US) 2:30 PM
Non-Farm Employment Change (US) 2:30 PM
Unemployment Rate (US) 2:30 PM
Comment: Optimism that the global vaccination program will foster quicker than expected global economic recovery has spurred the index to a close above the 30780 resistance region and eyeing the 31168 levels.
Bearish Preference: Sell position is envisage if price trades below 1.19500 with take profit at 1.19360
Bullish Preference: Buy position is envisaged if price trades above 1.19837 with take profit at 1.20106
Average Hourly Earnings m/m (US) 2:30 PM
Non-Farm Employment Change (US) 2:30 PM
Unemployment Rate (US) 2:30 PM
Comments: EURUSD ended bearish yesterday, breaking the support at 1.20112. However, its sharp and rapid decline appears exhausted as traders look forward to the NFP and unemployment news as a major determinant of future price movement.
Technical Analysis
Bullish Preference: Buy position is envisaged if price trades above 105.745 with take profit at 105.854
Bearish Preference: Sell position is envisaged if price trades below 105.408 with take profit at 105.322
Average Hourly Earnings m/m (US) 2:30 PM
Non-Farm Employment Change (US) 2:30 PM
Unemployment Rate (US) 2:30 PM
Comment: The dollar was down on Friday morning in Asia but was still heading towards its best weekly gain in three months over growing confidence in the U.S. economic recovery from COVID-19, also Thursday’s data revealed that 779,000 initial jobless claims were filed over the past week, fewer than the 830,000 claims predicted in forecasts. The dollar index touched a new two-month high in Asian trade amid signs of resilience in the labour market, with closely watched Non-Farm payroll figures due later in the global day.
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