The market is cautious and waiting for major events to influence direction. Focus on the European Central Bank (ECB) meeting and Jerome Powell’s testimony for potential market reactions. Pay attention to key economic data releases, especially U.S. non-farm payrolls, which could impact both EUR/USD and GBP/USD.



  • Overall: The market is waiting for the U.S. non-farm payrolls data on Friday for a clearer direction.
  • Upside potential: If the price surpasses 1.0885, consider buying towards 1.0940.
  • Downside potential: If the price falls below 1.0760, consider selling.
  • Key levels: Resistance: 1.0905, 1.0940. Support: 1.0885, 1.076-1.085
  • Events to watch: European Central Bank meeting and speech by ECB President Christine Lagarde.
  • Trading plan: Consider long positions if the price surpasses 1.0885 and closes above 1.0905.



  • Overall: The pound is expected to fall, but the market is not in a rush to sell.
  • Short positions: Consider short positions if the pair consolidates below 1.2605-1.2611.
  • New downturn: A new downturn can also start from the levels of 1.2725 and 1.2787.
  • Upward trend: If the price surpasses 1.2787, there’s a good chance of starting a new uptrend.
  • Key levels: Resistance: 1.2787, 1.2848-1.2860.  Support: 1.2605-1.2611, 1.2500
  • Events to watch: U.S. secondary jobless claims report. European Central Bank meeting (may affect GBP).
  • Trading plan: Consider short positions if the price consolidates below 1.2605-1.2611. Alternatively, consider long positions if the price surpasses 1.2787.



  • Overall: The Australian dollar has a chance to rise, but the outlook is uncertain.
  • Upside potential: If the non-farm payrolls data is positive, the pair may correct higher towards 0.6598.
  • Downside potential: If the data is negative, the pair is likely to form a peak around 0.6537 and start a decline towards 0.6444.
  • Key levels: Resistance: 0.6566, 0.6598. Support: 0.6537, 0.6444
  • Events to watch: U.S. non-farm payrolls data.
  • Trading plan: Wait for Friday’s nonfarm payrolls data before making any trading decisions.



  • Overall: The Bank of Canada is expected to hold the current interest rate at 5%.
  • Resistance: 1.3616, 1.3671
  • Support: 1.3495, 1.3550
  • Events to watch: Bank of Canada rate announcement, U.S. JOLTs Job Openings report.



  • Overall: The kiwi is expected to resume its upward movement after a temporary correction.
  • Support: 0.6030/40
  • Resistance: 0.6198, 0.6238
  • Events to watch: U.S. labor market data, ADP private employment report, JOLT job openings report, Fed Chair Powell’s testimony.
  • Trading plan: The market may be volatile, so caution is advised. Consider short-term positions based on price movements around the support and resistance levels.
Categories: Market News

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