USDX (USD Index)

U.S dollar index weakened Yesterday after BOE increase interest-rate for the first time since a decade ago, and President Trump nominated Jerome Powell as next Federal Reserve chief. The index down near 94.40 as expected and recovered by the end of the trading session to close at 94.71. There is no break outside of range 94.40 – 95.00 and the index should continue inside until today Non-farm employment data.

News to watch

05.30 AM UK Services PMI estimated reading of 53.3

08.30 AM U.S Non-Farm Employment Change, forecast 312k

U.S Unemployment Rate, forecast 4.2%

10.00 AM U.S ISM Non-Manufacturing PMI, consensus 58.5

For full outlook for this week, you can follow Forex Outlook For The Week 30 – 3 Nov 2017

Technical Analysis

EUR/USD

EUR/USD showed some strength in the previous day trading session, the pair closed as bullish candlestick above 1.1650 after moved as high as 1.1686. Overall, no confirmed break yet and the pair might stay sideway today before Non-farm employment data release.

Today critical level to watch:

Support: 1.1650, 1.1580, 1.1500, 1.1360

Resistance: 1.1710, 1.1820

GBP/USD

GBP/USD tumbled Yesterday from 1.3250 resistance level after BOE announces increase in interest-rate first time. The pair major bearish candlestick indicates the pair ready to move down further to test daily SMA 200. However, there is broken trendline which could act as support and reverse the current trend. Traders could observe price movement and wait for the reaction from the market after Non-farm employment data today.

Today critical level to watch:

Support: 1.3000, 1.2800

Resistance: 1.3100, 1.3250, 1.3300, 1.3342

USD/JPY

USD/JPY slide in European session after BOE announces increase in interest-rate, but similar to U.S dollar index, the pair recovered most of its losses and close near opening level. The pair back into a neutral situation with a bullish bias, today it might continue higher to test 114.50 – 115.00.

Today critical level to watch:

Support: 113.20, 112.50, 112.00, 111.60

Resistance: 114.50, 115.00

AUD/USD

AUD/USD stick at its daily SMA 200 and closed above it on Thursday. However, today the pair slide below the averages and looks will continue its bearish trend. Depend on the close today, and we might see AUD/USD down to 0.7500 – 0.7550 next week.

Today critical level to watch:

Support: 0.7690, 0.7550, 0.7500

Resistance: 0.7750, 0.7800, 0.7875