U.S Initial Jobless Claims Up 278K, USD Slides !

The U.S Initial Jobless Claims rose 278K, from 272K in the previous week, analysts had expected it to fall 271 in the last week…

Market impact: This developmen should weaken the U.S dollar, for EURUSD: The kay resistance 1.0880 has been taken out, immediate support comes at the 1.0865/1.0842 levels, stability above this level will keep the recovery mode intact…Immediate resistance comes at the 1.0909 levels, stability above this level should target 1.0962 levels, a failure to hold above the 1.0909 levels could mean a return to the 1.0865/1.0842 levels. Above 1.0962 will open 1.1030 levels…Below 1.0842 will restore the downside momentum and open the 1.0790 levels ahead of the 1.0730 levels…Conclusion: The EURUSD continues to face recovery threats above the 1.0865/1.0842 levels with risk towards 1.0962 levels…

 

EURUSD-H4-Mar 03

MARKET DATA

UPCOMING ECONOMIC EVENTS