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Market Futures Technical Overview Ahead of Non-Farm Figure

7 July 2017 07:00 PM BDT
Market Futures Technical Overview Ahead of Non-Farm Figure

FxGrow Daily Technical Analysis – 07th July, 2017 By FxGrow Research & Analysis Team Market Futures Technical Overview Ahead of Non Farm Figure Friday 7th July 2017, U.S is set to release major economic data. First, Unemployment Rate is doing far by good during the past years and it's highly expected to remain at 4.3% record. As for Average Hourly Earnings, last report booked 0.2% and expectations today are 0.3%. Any number between these two will be taken as a positive sign, but in case market was caught off guard with a lesser figure, this could be a game changer as Average Earnings, along with negative data released on June 4th. As a result, NFP will take center stage today and expectations are at 175K and above, in case of a lesser number, then the buck will receive another punch pushing the U.S Index lower which could come in Trump's economic outlook favor. SEP B POUND Current Price: 13000 Target: 13092 Resistance: 13040+, 13092 Support: 12930, 12891* Trend Reversal Point: 1.2802 Trend: Upwards Summary: The market remains in a short term bull advance with potential to attack the 13092 May high. A surge over Monday's high should fuel rallies near 13092. Be prepared for additional near term corrections, but narrow sideways congestion within the upper edges of last Wednesday's run over 12891*+ will keep bull forces. A close under 12891* is needed to stop the upturn and foster a correction down along 12802*. SEP CANADIAN$ Currently: 77245 Target: None Resistance: 7750?, 8000 Support: 7688, 7661, 76435* Trend Reversal: 75.985 Trend: Up Comment The market is bullish. A close over 7727 could fuel aggressive rallies towards 8000. A reluctance to extend past Wednesday's high today will caution for near term corrections into next week. A close under 76435* warns for a correction phase back through last week's run. SEP EURO For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.  

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