A few quick levels before the US unemployment claims move them again - Forex News by FX Leaders

A few quick levels before the US unemployment claims move them again

Posted Thursday, August 11, 2016 by
Skerdian Meta • 1 min read

EUR/USD moved up by nearly 100 pips yesterday, GBP/USD and USD/JPY suffered by some heavy selling while the RBNZ (RRoyal Bank of New Zealand) shook the forex market yesterday evening, particularly the NZD forex pairs. That means that the closest support and resistance levels have changed now. Let´s have a quick look at these levels before the US unemployment claims numbers moves the forex market again and changes the closest levels. 

EUR/USD – 1.1140-50 is where we are right now and it´s a support level to take into account since the 100 moving average is hanging around there. Below comes 1.1120, 1.1100, 1.1050 which is pretty strong and 1.10. The resistance levels come at 1.1190-1.120 which was the high yesterday, 1.1230s which was the high last week and 1.1280.

GBP/USD has been feeling the heat but the 1.29 support levels is holding

GBP/USD – As we´ve often repeated recently, this forex pair is quite volatile and unpredictable at the moment, so if you want to trade it you should factor in a greater degree of risk than when you trade other forex pairs. Anyway, here are some support and resistance levels to help improve your winning odds. Resistance comes at 1.30, 1.3020-30 which has been the high so far today, but the moving average stopped the price from moving higher and 1.31. Support comes at 1.2950s which was the low yesterday, 1.2930s which has been the low today so far and finally 1.29. 

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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