News and Events
The EUR rallied against the USD supported by higher equities in Europe and US and as upbeat data from China and Australia boosted risk appetite in the markets. The USD extended losses against other major currencies and the AUD surged after the data.
A US report showed U.S private employers unexpectedly cut 10k jobs in August. Expectations were for a 19k increase. The impact on currencies however was limited.
Data in the US also showed the manufacturing sector grew more quickly than expected lifting the USD higher to pare earlier losses against the JPY. The USDJPY hit a session high of 84.61 after the report from 84.10 before the data came out. US stocks also extended gains rising more than 2% after the data.
Technical Analysis
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EUR/USD
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GBP/USD
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EUR/GBP
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USD/JPY
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EUR/JPY
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USD/CAD
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DOW
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Res. 2
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1.2902
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1.5570
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0.8365
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84.85
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109.50
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1.0574
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10285
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Res. 1
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1.2850
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1.5500
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0.8330
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84.65
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108.60
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1.0510
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10254
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Market
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1.2826
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1.5467
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0.8292
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84.57
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108.48
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1.0487
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10235
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Sup. 1
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1.2770
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1.5325
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0.8255
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83.70
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107.60
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1.0440
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10210
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Sup. 2
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1.2740
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1.5285
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0.8225
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83.65
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106.65
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1.0424
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10100
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EURUSD (4HR)
The pair is upside oriented today supported by higher global equities and a slight recovery on risk appetite. After breaking recent highs of 1.2770 the EURUSD now trades above 1.2800, targeting 1.2920. Support is found at 1.2770 and below at 1.2660 and 1.2620.
Disclaimer
This research report or summary has been prepared by TFI Markets from information believed to be reliable. Such information has not been independently verified and no guarantee, representation or warranty, express or implied, is made as to its accuracy, completeness or correctness. This report is provided for information purposes only. Nothing in this report should be considered to constitute investment advice. It is not intended, and should not be considered, as an offer, invitation, solicitation or recommendation to buy or sell any of the financial instruments described herein. TFI Markets accepts no liability whatsoever for any direct or consequential loss arising from the use of this document or its contents.
Disclaimer
This research report or summary has been prepared by TFI Markets from information believed to be reliable. Such information has not been independently verified and no warranty, representation or warranty, express or implied, is made as to its accuracy, completeness or correctness. This report is provided for information purposes only. Nothing in this report should be considered to constitute investment advice. It is not intended, and should not be considered, as an offer, invitation, solicitation or recommendation to buy or sell any of the financial instruments described herein. TFI Markets accepts no liability whatsoever for any direct or consequential loss arising from the use of this document or its contents.
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