Nonfarm Payrolls On Tap

Economic News

USD

USD Appreciates in Expectation of Today's Announcement.

EUR

Will the US Nonfarm Payrolls Figures Help the EUR?

JPY

Powerful Upswing for the JPY.

OIL

OPEC Scheduled Meeting to Discuss Potential Cuts to Oil Production.

Technical News

EUR/USD

The pair is in a bearish formation and the daily studies are strengthening the notion that the pair's direction is down. The hourly confirm the bearish notion as the 4 Hour RSI has failed to cut the 80 level from the bottom section. It appears that the EUR/USD is heading towards 1.4000

GBP/USD

The pair is consolidating at the 1.7590 level after the sharp drop from 1.7900. The momentum is bearish and the next key level will reach a 1.7500 level. If a breach through that level will occur a stronger bearish move will be validated that might take the pair to new lows.

USD/JPY

A mild bearish channel is forming On the 4 Hour chart with 104.50 as a support barrier which is going to be tested, probably today. In case of a breach the pair might be in its way to 103.00. Going short might be preferable after the breach through the support level will take place.

USD/CHF

The dailies and the 4 hour charts are bullish, so this pair is expected to continue its upward movement. This pair will probably target the 113.00 level and entering a long position on a dip will create a good opportunity for some profit taking.

Source: FOREXYARD