According to the economic calendar, the most important event for today is the release of the CB consumer confidence at 17:00. Analysts anticipate the decline to 133.7 points. If the actual level of the indicator is higher, the USD will be supported.
If we look at the daily chart of EUR/USD, the pair has been trading sideways and MACD confirms that as the indicator is placed close to the zero level. Parabolic SAR shows the current uptrend for the pair.
Let’s look at the H1 chart. The pair has already bounced from the central pivot at 1.1385 and moves down. If the CB consumer confidence outperforms the expectations, the bearish pressure will increase. In that case, the pair will fall to the support at 1.1349.
Otherwise, the pair will have a possibility to break the resistance at 1.1385 and rise upwards to the next resistance at 1.1414.
As for USD/JPY, the downtrend for the pair is still on, which we can see on the daily chart. If we look at RSI, the indicator left the oversold zone on Wednesday. That signals a good chance to open long positions.
On H1, the pair has been going down. If the USD is supported by the today’s release, the pair will rise towards the resistance at 111.22. The next resistance is placed at 111.84. If the investors are disappointed by the data, the pair will fall to the support at 110.298.
For a long time, traders considered American Non-farm Payrolls (NFP) the most important release in the market. However, the situation has changed. Now US CPI moves financial markets.
The higher prices seen today are generally related to the pandemic, that’s no doubt. US consumer prices jumped in October at the fastest pace in three decades putting the Biden administration on the defensive and increasing prospects that the Federal Reserve will raise interest rates next year. Jerome Powell says Fed will discuss speeding up bond-buying taper at the December meeting. What does it mean for markets?
It seems like most of the assets have joined Black Friday's sell-off with global indices, risky currencies, and commodities going down.
Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.
After the US CPI last week came out above the forecast, traders started expecting a 75-basis point rate hike…
In this video, we will talk about the potential change of a trend in the euro, another stock rally amid a global downtrend, gold prospects, and news that shakes the world right now. It’ll be a helpful video you don’t want to miss.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
|
