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Forex Update 03.12.2021Hello everyone, as we all know the market action discounts everything. _________________________________Make sure to Like and Follow if you like the idea_________________________________ The dollar rose slightly on Friday, ahead of the release of the latest monthly U.S. jobs report, which might solidify a faster pace of tapering and, potentially, early interest rate hikes despite the omicron-induced uncertainties. The Dollar Index, which measures the value of the US dollar against a basket of six other currencies, climbed 0.2 % to 96.305, slightly higher for the week. That would be the sixth weekly gain in a row. The EUR/USD declined 0.1 % to 1.1284. Daily Support & Resistance points : support Resistance 1) 1.1279 1) 1.1334 2) 1.1260 2) 1.1368 3) 1.1225 3) 1.1388 The GBP/USD dipped 0.2 % to 1.3279. Daily Support & Resistance points : support Resistance 1) 1.3273 1) 1.3337 2) 1.3240 2) 1.3368 3) 1.3209 3) 1.3401 The USD/JPY increased 0.2 % to 113.34. Daily Support & Resistance points : support Resistance 1) 112.79 1) 113.43 2) 112.43 2) 113.71 3) 112.15 3) 114.07 The AUD/USD sank 0.4 % to 0.7066, just above its 13-month low of 0.7063. Daily Support & Resistance points : support Resistance 1) 0.7077 1) 0.7114 2) 0.7062 2) 0.7136 3) 0.7040 3) 0.7152 The dollar gained ground this week after Federal Reserve Chair Jerome Powell testified to Congress that inflation would remain high for longer than the central bank had predicted, and that Fed policymakers would consider a faster tapering of the central bank's bond-buying program at their December meeting. This hawkish tone was maintained on Thursday, with San Francisco Fed President Mary Daly stating it may be time to "start building a plan" to raise interest rates to battle inflation, and Richmond Fed President Thomas Barkin discussing "normalizing policy." Money markets are once again predicting that the central bank would raise its benchmark rate by 25 basis points at its June 2022 meeting, as they did before the first news about Omicron. The focus now shifts to the release of the monthly official jobs report in the United States for signs that the labor market is strengthening. The report's generally definitive signals, however, are likely to be muffled by the fact that it predates the advent of the new version. Nonfarm payrolls are predicted to have climbed by 560,000 in November, up from 531,000 in October, while the unemployment rate is expected to fall to 4.5 percent from 4.6 percent in October. However, both the ADP private payrolls on Wednesday and the initial unemployment claims on Thursday were greater than predicted, indicating that a positive surprise is a possible possibility. This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
CAPITALCOM:DXY
by GabiDahduh
GBPCAD SHORTS ✅✅✅On into the next week i expect GCAD to drop, price just took out liquidit above buy side liquidity (BSL) equal highs+weekly highs and closed bearish below, we have multiple bullish imbalance that price will try to close next week. For a better entry wait for a high momentum bearish candlestick on h4/d1, also what supports this idea is the correlation between usoil and cad i hope we will see a small retracement on usoil on monday so that means bullish CAD and our chart BEARISH. Comment below what you think about.
Short
by AnonimFXRO
1
GBPUSD Swing Trade 5R+This trade wasn't intended to be a swing trade, but I had a profit target I calculated that price would reach, so I held the trade and waited for the target while trailing my stop behind to keep me safe. I took the entry off the 70.5% Fibonacci level and rode price action down as it broke for new lows over the past 2 days. I took this trade on Wednesday 24 November and today 2 days later it hits the final profit target before the markets close for the weekend. Overall a very good trade with great profit management
Short
by tjbate
2