Intraday Forex Friday, October 2 (USDJPY, EURUSD, & etc.) The dollar drifted toward posting its softest week in more than a month.

Zulbahri_GB

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Hi everyone. This observation is made around 4:30 UTC today, with 15 minutes time frames. The Resistance and Support Line were constructed according to Fibonacci retrenchment. Any discussion is welcomed.

Stocks in Asia-Pacific mostly declined Friday morning, as data showed several economic data falling in August.
The dollar drifted toward posting its softest week in more than a month on Friday, with signs of an impasse on Capitol Hill and the risk of disappointment at U.S. jobs data due later in the day holding investors back, and had them seeking out riskier currencies.

I also does analysis for some other currencies. Read more on the website on TECHNICAL ANALYSIS and DAILY MARKET NEWS.

[USDJPY]
  • The Japanese yen last traded at 105.65 per dollar.
  • The current trading range between the 104.65 and 106.05 price levels will likely remain intact for the near-term.
  • The Japanese yen as a safe-haven currency that tends to gain during periods of uncertainty, barely moved this week, suggesting a degree of caution remains.
  • Also, Thursday's Japanese economic data was dovish for BOJ policy and bearish for the yen after Japan Q3 Tankan large manufacturing business conditions rose +7 to -27.
Important Levels to Watch for Today:
  • Resistance line of 105.770 and 105.903.
  • Support line of 105.337 and 105.203.
USDJPY.png


[EURUSD]
  • The euro retreated just below week highs made overnight, holding at $1.1715.
  • The 1-week high due to hawkish comments from ECB Vice President Guindos, who said that there's no need to bolster emergency asset purchases right now since more than half of the ECB's current Pandemic Emergency Purchase Program (PEPP) hasn't even been spent.
  • Eurozone economic data on Thursday was mixed for EUR/USD. The Eurozone Aug unemployment rate rose to a 2-year high of 8.1%. Meanwhile, Eurozone Aug PPI fell -2.5% YoY.
  • EUR/USD further gains remain subdued, with signs of an impasse on Capitol Hill and the risk of disappointment at U.S. jobs data due later in the day holding investors back.
  • Investors are watching with concern as coronavirus infection rates climb in Europe and the U.S. and awaiting crucial U.S. labor figures for a read on the economic recovery.
Important Levels to Watch for:
  • Resistance line of 1.17763 and 1.17971.
  • Support line of 1.17088 and 1.16879.
EURUSD.png


For analysis of USDCHF, GBPUSD and other insight into the market, read more on the WEBSITE or click on TECHNICAL ANALYSIS and DAILY MARKET NEWS.
 
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