USDX (USD Index)

The upward movement of U.S dollar index experienced rejection when it tested 93.00. The index is currently moving lower previous day low before U.S Non-farm employment data release. There is no conclusion on the direction yet as the market is waiting for the data release. Strong numbers needed to bring the index higher above 93.00.

News to watch

08.30 AM U.S Non-Farm Employment Change, estimate 180k

For full outlook for this week, you can follow Forex Outlook For The Week 28 – 1 Sep 2017

Technical Analysis

EUR/USD

The previous day was a bearish day when EUR/USD move lowers the bearish candlestick printed on Wednesday. Fortunately, as soon as the pair hit 1.1820 it reverses and closed the trading day as a bullish candlestick. EUR/USD is currently hovering near 1.1925 resistance level and waiting for Non-farm employment data release.

Today critical level to watch:

Support: 1.1820, 1.1800, 1.1820, 1.1710

Resistance: 1.1900, 1.1924, 1.2000

GBP/USD

GBP/USD bull is winning after the pair formed another bullish pin bar from the daily SMA 200. There is not much to write, without any major change to the direction, GBP/USD should continue toward 1.3000.

Today critical level to watch:

Support: 1.2900, 1.2870, 1.2800, 1.2700

Resistance: 1.2930, 1.3000, 1.3070

USD/JPY

USD/JPY reversed its direction at the end of the trading day and closed below 110.50. Although the pattern is bearish, in the end, its a neutral situation before Non-farm employment data release. The pair stick near the resistance level and traders might want to stay sideway for a while.

Today critical level to watch:

Support: 110.00, 109.00, 108.10

Resistance: 110.50, 110.94, 111.00

AUD/USD

The bear failed to bring AUD/USD below 0.7875, and the bull manages to close the pair back above the trendline. The trend expected to continue ranging between 0.7875 – 0.7970.

Today critical level to watch:

Support: 0.7900, 0.7875, 0.7834, 0.7750

Resistance: 0.7970, 0.8000