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Mid-Day Report: Dollar Soars On All Solid Job DataDollar jumps in early US session after overwhelmingly strong employment data. Non-farm payroll showed 271k growth in employment in October, much higher than expectation of 180k. That's also the strongest figure this year and affirmed the view that slowdown in hiring in the prior months were only temporary. Unemployment rate also dropped to 5.0% versus expectation of being unchanged at 5.1%, hitting a seven year low. Meanwhile, wage also grew strongly with average hourly earnings rose 0.4% mom versus consensus of 0.2% mom. | |
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EUR/USD Mid-Day OutlookDaily Pivots: (S1) 1.0845; (P) 1.0871 (R1) 1.0909; More..... EUR/USD tumbles sharply to as low as 1.0707 in early US session and took out 1.0807 support. The development confirmed completion of whole rebound at 1.0461 at 1.1713. Intraday bias remains on the downside for a test on 1.0461 low next. On the upside, above 1.0896 minor resistance will turn bias neutral and bring consolidations before staging another decline. |
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Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency tumbled in NY morning as US jobs report came in much better than expected, bids at 1.0830, 1.0800, 1.0785 and 1.0750, mixture of bids and stops at 1.0700 is in focus, however, some buy orders are still noted at 1.0670 and 1.0640-50. On the upside, offers are now seen at 1.0740-50, 1.0770-75 and 1.0800, sell orders are expected at 1.0830-35 and 1.0850-60 with stop building up above 1.0900 and 1.0940-50. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Trade Idea Update: GBP/USD - Sell at 1.5150Cable's selloff has gathered momentum in NY morning after NFP, current breach of previous support at 1.5107 confirms our view that early decline has resumed and further weakness to 1.5020-25 would be seen, however, psychological support at 1.5000 would hold on first testing, risk from there has increased for a rebound to take place later. Trade Idea Update: USD/JPY - Buy at 121.40As the greenback has maintained a firm undertone after rising to 122.00 yesterday, suggesting recent upmove is still in progress and may extend gain to 122.10-15 (61.8% projection of 118.06-121.51 measuring from 119.99 as well as 1.236 times projection of 119.99-121.49 measuring from 120.26), then towards 122.40-50, however, loss of near term upward momentum should prevent sharp move beyond 122.70-75 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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