Vang SJC

Yesterday (9/12), EUR / USD ended in positive territory for the second consecutive day in the context of meeting the market’s waiting US Federal Reserve (Fed). Ending the session, the pair closed at $ 1.10236, up 22.1% compared with the opening price $ 1.08903.

The pair fluctuated in a wide band from $ 1.08780 to $ 1.10417 before closing at its highest level since early May 11. With no economic data from the US and euro zone since the start of the European session should rise nature of “one-dimensional” with stable demand.


Fundamental Analysis

Today, the focus of the market is the amount of applications for unemployment benefits for the first time by the Ministry of Labor of the United States reported at 8:30 pm GMT + 7. These are figures aggregated by week, is the basis of building Employment Report is published monthly, plus this is the last job data before the Fed meeting, so the index is attracting attention of investors. Claim amount reduced mean number of unemployed fell, positively affected the labor market in particular and the economy in general. Economists forecast the number of new applications increased by 266 000 in the week after the application, if today reported lower numbers, ability to raise interest rates will increasingly be strengthened, supporting the greenback, pushing the pair down.

Friday last week, nonfarm payrolls showed that the market has more 211,000 new jobs, soared compared to the forecast 201,000. Earlier in October, the number of employed people increased by 271 000 even people, making the average new jobs per month since the beginning of this year to nearly 200,000. For the Fed, the labor market has met the conditions for economic tightening, as she Yellen said the economy needs to create nearly 100,000 jobs each month to compensate for job losses in the years of economic distress Quitting. Futures markets suggest that the market is betting the Fed to 80% will raise interest rates this year.


Technical Analysis

Currently, at 13:53, the pair is trading at $ 1.09924, down slightly from the opening price $ 1.10235.

Observe the H1 chart below can be found in the Asian session, the price is fluctuating around 50.0 at $ 1.1054 and clearance tends to move down the block 38.2. Yesterday the price has fluctuated in a range between two barrier. Forecast in the morning European session, prices will fluctuate slightly to $ 1.09700 area, then to the US session, the more likely the price will break makes 38.2, 23.6 toward clearance at $ 1.07466.

But 38.2 is quite strong resistance level, price can completely turn from here and around the barrier closing.

Yesterday, tools MuaEA TREND signal SIGNAL purchased and help us earn 122 points. Today Indicator continues for a buy signal.


Psychological Analysis

The market is facing the Fed raised interest rates for the first time since 2006 that the greenback rose against other currencies, causing downward pressure on EUR / USD. Observe the H1 chart we can see eight candle candle down from 2 increase, the average of 8 candle body longer average fell 2 candle increase indicates stronger buying sentiment. Prediction trading band will strengthen and prices will fall further as the market entered the European session and US session. Positive employment data draggable pair plummeted.



Two days of Euro rallied recently as investors are confident in the European economy flourishes, overshadowing prospects for further ECB easing in the next meeting. Besides, the risk of falling oil prices and strong dollar is putting pressure on the country’s industry as well as consumption and inflation. If reports of applications for unemployment benefits rose sharply today, the possibility of the Fed raising interest rates to slow the roadmap process or even postpone raising interest rates can drag dollar declined, supporting the pair go up.

Looking at D1 chart below, the price may turn reached 50.0 at $ 1.10000 clearance. In case of strong buying pressure, prices may touch 61.8 at $ 1.11178 clearance.

Market commentary

In the longer term, the pair remains under pressure downward eve of Fed meeting next week. With the publication of applications for unemployment benefits today, prices are likely to fluctuate sharply. The positive data could drag the pair plunged $ 1.09200.

However, the number of unemployed increased by more than anticipated could support the pair to go up the blue region at 1.01800.

Analyses of Group If24h

Linh Nhan