83% of retail investor accounts lose money when trading CFDs with this provider.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

5 May 2017                          Daily Analysis


Greenback quivers as NFP approaches.

Euro held onto its overnight gains during early Friday trading while investors anticipates for tonight’s US Nonfarm Payrolls report which will dictates overall market tone. Pairing of EUR/USD eased 0.09% to $1.0974. The single common currency received higher buying volume after viewer’s poll declared that Emmanuel Macron won a TV presidential debate against Marine Le Pen on yesterday. Such optimism has further increased the likelihood of Macron in reigning his victory at the runoff vote which will be held on Sunday. Otherwise, greenback regained some grounds after sliding off against other major peers during North American trading hours. The US dollar was derailed from its prior rally following a mélange of US economic data performance whereby initial jobless claims fell more than expected while factory orders were rather subdued during March. The dollar index was last quoted at 98.64 as of writing.


As for commodities, crude oil price rose 0.15% to $45.59 while having limited upside as market participants remains concerned over the ongoing oversupply glut and a rebound in US shale production. Likewise, gold price inched up 0.1% to $1,228.31 while on track for its biggest weekly losses due to receding political risk in France and higher expectation for a US rate hike as early as June.


Today’s Holiday Market Close

Time                       Market                                  Event

All Day                     JPY                                       Japan – Children’s Day


Today’s Highlight Event

Time                       Market                                  Event

09:30                       AUD                                      RBA Monetary Policy Statement

01:30                       USD                                      Fed Chair Yellen Speaks


Today’s Highlight Economy Data

Time Nation & Data Previous Forecast Actual
20:30 USD – Nonfarm Payrolls (Apr) 98K 185K
20:30 USD – Unemployment Rate (Apr) 4.5% 4.6%
20:30 CAD – Employment Change 19.4K 10.0K
22:00 CAD – Ivey PMI 61.1 62.3
01:00 Crude Oil – US Baker Hughes Oil Rig Count 697




GBPUSD, H1: GBPUSD remains traded within a downward channel after retracing from the top level of the channel. A closure below the 20-moving average line (red) would suggest GBPUSD to advance further down, towards the target of support level at 1.2895.


Resistance level: 1.2910, 1.2930

Support level: 1.2895, 1.2880




EURUSD, H4: EURUSD has recently slipped from the top level of ascending triangle, signaling a change in trend direction to move further upwards. It is expected to extend its upward momentum after breaking the psychological level at 1.1000.


Resistance level: 1.1000, 1.1050

Support level: 1.0950, 1.0880




USDJPY, H1: USDJPY were traded higher following prior rebound from the strong support level of 112.30. As the downward signal line from MACD histogram continues to narrow upwards, a closure above the resistance level of 112.65 would suggest USDJPY to extend its upward momentum.


Resistance level: 112.65, 113.05

Support level: 112.30, 111.95




CrudeOIL, H4: Crude oil price has recently slipped out from the bottom level of downward channel, signifying the change in trend direction to move further downwards. As MACD histogram continues to illustrate prominent downward signal and momentum, a closure below the support level of 45.30 would suggest crude oil price to extend its losses.


Resistance level: 46.20, 47.00

Support level: 45.30, 44.35




GOLD_, Daily: Gold price has recently closed below the upward trend line, signaling a change in trend direction to move further downwards. As the downward signal from MACD histogram continues to expand downwards, gold price is expected to advance further down towards the target of support level at 1208.95.


Resistance level: 1229.35, 1254.60

Support level: 1208.95, 1188.60