Forex South Africa
Forex South Africa

Forex South Africa

@forexsouthafrica

There is a prospect of higher USD carry than previously assumed – Commerzbank

US Dollar clings to last week's recovery gains on the back of the impressive January jobs report on Friday. Economists at Commerzbank expect the greenback to remain on a solid foot.

Gleanings from the US labour market report
“Instead of the 200K jobs created expected by analysts it turned out to be approx. 500K, instead of a rise in the unemployment rate to 3.6% we saw a fall to 3.4%. Combined with the recent rise in the number of job vacancies this provides an image of a US labor market that is heavily overheating.”

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AUD/USD hovers around 0.6900, over two-week low as focus shifts to RBA on Tuesday

The AUD/USD pair struggles to preserve its modest intraday gains on Monday and attracts fresh sellers in the vicinity of mid-0.6900s. The pair turns back lower for the third successive day and retreats to the 0.6900 mark during the mid-European session, closer to over a two-week low touched earlier today.

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GbpJpy sell @ 159.240

Tp1 : 159.050
Tp2 : 158.700

sl : 159.600

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EUR/USD maintains bullish trend despite post-NFP crash [Video]

Encouragingly, the positive trend from September’s 20-year low remains unchanged above the nearby 1.0760-1.0700 support region. The 50-day SMA and the ascending trendline, which connects all the lows from mid-November, are approaching that area as well. If the sell-off snaps that floor, there are a couple of key levels at which the pair could still gain buying interest. The constraining line from September may come first into view at 1.0560 ahead of January’s low of 1.0480. Note that the 200-day EMA is flattening around the same location. Hence, a decisive close lower would mark a new lower low in the short-term picture, confirming a bearish trend reversal. If that proves to be the case, the price may seek shelter around the long-term resistance-turned-support trendline currently at 1.0400.

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GBPCAD BUY 1.62700
💫TP 1.62900
💫TP 1.63300
💫TP 1.63500
💫TP 1.63700
💫TP 1.63900
💫TP 1.64100
💫SL 1.60800
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💫GBPJPY BUY 157.000
💫TP 157.300
💫TP 157.600
💫TP 157.900
💫TP 158.200

SL:115.000
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