U.S Market Review on December 5, 2014

InvestClinic - In the US session today will be 3 to data released by that Non-Farm Employment Change in estimate rose from 214K into 231K, the trade balance of -43.0B strengthened to -41.3B, while unemployment is expected to remain at 5.8% figure.

 
Previous dragi has not provide a strong enough signal of additional monetary stimulus, so that the EU has strengthened. The ECB also cut its growth forecast for the euro zone next year to 1.0% of the projection in September by 1.6%. 

Inflation expectations for 2015 are also reduced to only 0.7% from the previous 1.1%, well below the ECB's target of close to 2%. based on the description above can be concluded that for the news tonight in the prediction would side with the USD. For long-term euro also allegedly would have strengthened, if the issue of QE will actually be applied.

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AUD/USD remains under pressure

AUD/USD remains under pressure. Initial support is at 1.0395 which if breaks might amplify the bearish pressure that could push AUD/USD down to 1.0372 – 1.0345.

Hourly stochastic and CCI are still mixed, but it is better to prepare alternative strategy in case bullish correction occurs to the resistance area at 1.0434 – 1.0457. Bearish signal that might confirm within the area could trigger a fallback move to 1.0419 – 1.0395.

The intraday bias will turn to bullish only if the resistance at 1.0475 breaks. In that case, AUD/USD will get the chance to move up to 1.0473 – 1.0496.

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GBP/USD is in Bullish Bias, Beware of Correction

Intraday bias for GBP/USD currently is bullish. Initial resistance is at 1.5219. The bullish bias will be stronger if that resistance breaks and potentially will raise GBP/USD up to 1.5249 – 1.5282. Nevertheless, beware of correction since hourly stochastic and CCI are overbought. As alternative scenario, watch the support area at 1.5170 – 1.5140 if correction occurs to within that area to look for bullish signal confirmation as buy signal, with rebound target at 1.5189 – 1.5219.

Be careful if the support at 1.5140 breaks because it will turn the intraday bias to bearish and possibly will push GBP/USD down to 1.5121 – 1.5091.

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USDJPY : Likely bullish

Time Frame D1
R3 98.51
R2 97.52
R1 96.76
Pivot 95.77
S1 95.01
S2 94.03
S3 93.27

RSI (14) 71.67

Prediction today, trend: Bullish
The above position will rise to around 98.50

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EUR/USD back under strong bearish pressure

EUR/USD back under strong bearish pressure after falling from resistance at 1.3133. Price is currently engaged in a phase of consolidation approaching resistance area in the range of 1.3022 - 1.3065. Bearish signal that may be confirmed in the range is likely to be a sell signal with a target in the range of 1.2996 - 1.2954. Furthermore, the penetration of the support at 1.2954 is expected to increase and potentially bearish pressure will push EUR/USD to range 1.2912 - 1.2865.

Intraday bias will turn bullish if resistance at 1.3065 broke. If that happens, the EUR/USD is expected to move up into the range of 1.3091 - 1.3133.

source

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GBP / USD: under pressure

GBP / USD remains under pressure, moving around the 1.4844 support. If support is broken, the GBP / USD is expected to continue to be depressed to the range of 1.4838 - 1.4786.

On the other hand stochastic and CCI 1 hour shows a bullish indication. Therefore there is the possibility of a pullback will occur towards resistance area in the range of 1.4983 - 1.5035. GBP / USD is still in a bearish bias over the last resistance, the bearish signals that may appear in this range is expected to be a sell signal with a target in the range of 1.4930 - 1.4884.

New intraday bias will turn bullish if resistance at 1.5035 broke. If that happens, GBP / USD is expected to move towards 1.5081 - 1.5110.

source

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