U.S Initial Jobless Claims stands at 265 k , Sell USD on Recovery !

forex joblessFILEminimizer Copy
forex joblessFILEminimizer Copy

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.

The U.S Initial Jobless Claims rose from 262 K to 265 K in the previous week , analysts had expected  U.S Initial Jobless Claims to rise to 280 K last week.

Jobless Claims 4-Week Avg fell from 283.75 K to 279.50 K …………

This development should advance the US dollar a little bit …..As long as 94.47 resistance holds on a 4 hour closing basis , the US dollar remains on the downside towards the 93.94 levels where a cut will open 96.50/93.00 levels..above 94.47 will open 94.89/95.32 before the next fall……..

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EURUSD :  The 4 hour chart has already closed……… .. the pair has found support at the 1.1261 levels, above daily chart support 1.1222 , stability above 1.1261 level on a 4 hour closing basis could mean a return to the 1.1391 levels , below 1.1261 will open main support 1.1222 before the next rise………..

In all , as long as 1.1222/1.1261 support holds , the EURUSD is likely to return to the upside towards the 1.1391 levels…

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MARKET DATA

UPCOMING ECONOMIC EVENTS