Subscribe to RSS

Forex News: A Wild NFP Release to End a Wild Week

EUR/USD

Forex News: After a brief period of sideways movement, yesterday the Euro bulls continued their climb and the assault on resistance reversed at 1.1210, a level better seen on a daily chart.

Technical Outlook

The pair shows strong rejection around 1.1210 zone, with both oscillators overbought and this suggests that today we will see bearish price action, at least to some extent. However, price was stuck in a range for a relatively long while and now it finally broke out so it’s possible for the current up move to extend into the zone near 1.1300. A lot of today’s direction will be decided by the U.S. employment data which will overshadow the technical aspect.

Fundamental Outlook

The Non-Farm Employment Change, which is the most important and anticipated report focused on United States employment is released today at 1:30 pm GMT. Analysts expect a hefty drop from last month’s 292K to 189K and if this prediction comes true, we are likely to see further upside movement for the pair, on the back of US Dollar weakness. This report usually creates very strong volatility, sometimes even sharp reversals or whipsaws, so caution is recommended.

GBP/USD

The Bank of England kept interest rates unchanged but this time all members voted the same way, while previously, one of the nine voted to raise rates. This generated mixed movement at the time of the announcement.

Technical Outlook

The most recent candles show long wicks and the bullish momentum faded around 1.4650. On top of that, the oscillators are both overbought and all this makes us anticipate a move lower, which may find support at 1.4475. A break above 1.4650, followed by a re-test and bounce would make 1.4830 the next target but a lot will depend on today’s NFP release.

Fundamental Outlook

The United Kingdom didn’t schedule any economic indicators for the day but the U.S. Non-Farm Payrolls will directly influence the pair, potentially creating strong volatility.

We hope you had a profitable trading week and we wish you a relaxing weekend.

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

Forex Monthly Live Trading competition – Tickmill Ltd.

Forex Monthly Live Trading competition – Tickmill Ltd.(0)

Forex Monthly Live Trading Contest. Put your forex trading skills to test and win up to $1000 every Month! Forex Live Trading Contest is only available for clients of Tickmill Ltd.(FSA Regulated) Link:  Weekly Demo Race Trading Contest Link:  $30 Free Welcome Bonus Offer Link:  Forex Monthly Live Trading Contest Available to: All new traders

50% Deposit Bonus and $30 Free Trading Bonus – XM

50% Deposit Bonus and $30 Free Trading Bonus – XM(0)

Get 50% Deposit Bonus and $30 Free Trading Bonus. XM offers its clients multiple trading benefits to stay at XM, starting with a $30 Free Trading Bonus “No deposit required” Link:  $30 Forex No Deposit Bonus Link:  50% Deposit Bonus up to $500 Available to: All new trading account Bonus offer: 50% Deposit Bonus and

$50 Forex No Deposit Bitcoin Bonus Promotions – UFX

$50 Forex No Deposit Bitcoin Bonus Promotions – UFX(0)

$50 Forex No Deposit Bitcoin Bonus Special Promotion to all new trading account holder. Start Forex Trading Bitcoin with UFX and  Get a $50 No Deposit Bonus Link:  $50 Forex No Deposit Bonus Promotion Link:  $50 Free No Deposit Bitcoin Bonus Link:  Halloween Trick or Trade Competition Available to: All new trading account Ending Date:

Up to 100% Bonus Promotions for Each Deposit – AvaTrade

Up to 100% Bonus Promotions for Each Deposit – AvaTrade(0)

Bonus up to 100% for Each Deposit, This Bonus offer is available to USD, EUR, AUD and GBP base currency. AvaTrade Leading Online Forex Trading Broker Start now and get a Deposit Bonus of up to 100%. Link:  100% Bonus to Your First Deposit Link:  35% New Accounts Bonus Promotion Link:  Advantages of Trading Bitcoin

Start Forex Copy Trading your Perfect Partner – ForexTime

Start Forex Copy Trading your Perfect Partner – ForexTime(0)

Start Best Copy Trading your Perfect Partner. Join fxtm cutting-edge forex copy trading programme with fxtm Invest and match up with a suitable trader. Let them trade while you watch your potential forex profits grow. Link:  Start Copy Trading your Perfect Partner Link:  $25 Per Referral Earn up to $10000 Link:  Receive $30 Tradeable Credit

30% Binary Options Deposit Bonus Promotion – Ayrex

30% Binary Options Deposit Bonus Promotion – Ayrex(0)

30% Binary Options Deposit Bonus Promotion to all new Traders. Deposit Bonus can be applied to a deposit that equals 100 EUR/USD or a larger amount Link:  $100 Free Win in Just One Hour Link:  $30 Binary Options No Deposit Bonus Link:  30% Binary Options Deposit Bonus Ending Date: 31 December 2019 Available to: All

$50 Free Bonus Will be credited to Your Account – FBS

$50 Free Bonus Will be credited to Your Account – FBS(0)

FBS offers a Free Welcome of $50 the easiest way to progress on Forex. Trade without depositing with the leverage of 1:500 and make your profit grow! Straightforward and easy conditions, anytime profit withdrawal get your $50 Free now Link:  $50 Free Will be credited to Your Account Link:  $88.8 Forex No Deposit Bonus Link: 

Start Forex Trading Bitcoin with 50 USD Free Bonus – UFX

Start Forex Trading Bitcoin with 50 USD Free Bonus – UFX(0)

Start Forex Trading Bitcoin with UFX and Get a $50 No Deposit Bonus. $50 No Deposit Bonus is subject to your phone verification with UFX Account funding in Bitcoin requires a Bitcoin wallet Link:  $50 Forex No Deposit Bonus Promotion Link:  $50 Free No Deposit Bitcoin Bonus Link:  100% Real Money CashBack Promotion Available to:

Deposit your account $3000 & get $5000 more – InstaForex

Deposit your account $3000 & get $5000 more – InstaForex(0)

Deposit your live account with $3,000 and get $5,000 more! In November we raffle $5,000 within the Chancy Deposit campaign. Get a chance to win by depositing $3,000 to a trading account. Link:  Deposit your account $3000 & get $5000 more Link:  Get 250% Bonus for First Deposit Link:  $500 Forex No Deposit Free Bonus

Forex Free Signals Access to High Quality – CMS Trader

Forex Free Signals Access to High Quality – CMS Trader(0)

Trade Free signal on your mobile and email option and get free messages,email, each having all the necessary information to open a transaction. Static’s shows that 91% of such signals generate profit. Link:  Top Social Copy Trading Platforms Link:  FREE trading signals Special Promo Ending Date:  31 December 2018 Available to:  New Clients only Bonus

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories