Source: PaxForex Premium Analytics Portal, Technical Insight
Australia: unexpectedly strong labor market report
Australia: October, employment rate +178.8 thousand vs. the forecast of -27.5 thousand and pre. -29.5 thousand;
The unemployment rate of 7.0% vs. the forecast of 7.1% and pre. 6,9%;
Full employment rate +97.0 thous. vs. the forecast of -20.1 thous;
Part-time employment +81.8 thou. vs. the forecasted 9.4 thousand;
The proportion of the able-bodied population 65.8% vs. the forecast of 64.8% and pre. 64,8%;
Hidden unemployment -1% to 10.9%.
AUD/USD, 30 min
Pivot: 0.7296
Analysis:
Provided that the currency pair is traded above 0.7265, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.7296
- Take Profit 1: 0.7310
- Take Profit 2: 0.7330
Alternative scenario:
In case of breakdown of the level 0.7265, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.7265
- Take Profit 1: 0.7250
- Take Profit 2: 0.7235
Comment:
RSI shows the possibility of ascending momentum during the day.
Key levels:
Resistance | Support |
0.7340 | 0.7265 |
0.7330 | 0.7250 |
0.7310 | 0.7235 |
AUD/USD, D1
Pivot: 0.7307
Analysis:
While the price is above 0.7100, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7307
- Take Profit 1: 0.7415
- Take Profit 2: 0.7520
Alternative scenario:
If the level 0.7100 is broken-down, follow the recommendations below.
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7100
- Take Profit 1: 0.6985
- Take Profit 2: 0.6900
Comment:
RSI shows a bullish sentiment.
Key levels:
Resistance | Support |
0.7650 | 0.7100 |
0.7520 | 0.6985 |
0.7415 | 0.6920 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD - buy above 1.1850 with 1.1890 and 1.1910 targets as Take Profit. Alternative scenario - if the level 1.1850 is broken-down, sell with the TP 1.1830 and 1.1815.
GBP/USD – buy above 1.3225 with 1.3310 and 1.3330 as Take Profit targets. Alternative scenario - if the level of 1.3225 is broken-down, you should consider selling with the targets 1.3195 and 1.3165 as Take Profit.
USD/CHF - short positions below 0.9125 with 0.9085 and 0.9070 targets as Take Profit. Alternative scenario - if the level of 0.9125 is broken-out, buy with the targets 0.9140 and 0.9155 as Take Profit.