EURUSD : Trading the U.S Jobless Claims Apr 10 2014

EURO-Dollar-min

Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.

Last week , it continued to rise towards the 326 K , this week is expected to make a small decline towards the 320 K  , Generally ; a higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.

The Initial Jobless Claims  will be published today , Thursday Apr 10 2014 at 12:30 PM GMT….

EURUSD technical outlook : ( Thursday Apr 10 2014 )

Intraday outlook in EURUSD remains on the upside as long as support 1.3810 holds on hourly basis , resistance comes at the 1.3875 levels , a break would open 1.3915 levels , further upside would challenge the 1.3966 levels , If this resistance is taken out , focus will be on the 1.4035 levels.

On the downside , support comes at the 1.3810 levels , losing this level on hourly basis would turn outlook neutral for retesting 1.3780 levels ahead of 1.3737 ( main) before the next rise , a break would open 1.3695/1.3672 levels.

How the US Jobless Claims would affect the  EURUSD today ?!!!

  • A reading between  300 K – 350 K :  is likely to bring sideways move within 1.3810 : 1.3915 range.
  • A reading above the 350 K :  is likely to open the 1.3915 levels and challenge the 1.3966 levels .
  • A reading above 400 K : is likely to open 1.3966 levels and challenge the 1.4035 levels.
  • A reading below 300 K : is is likely to open 1.3810 and possible 1.3780 levels.
  • A reading below 250 K is likely to open / challenge 1.3737 levels.

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