U.S Jobless Claims Falls To Forecast 275K, Sideways Market In Sight!

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 fell, from 282K in the previous week, the indicator was expected to fall 275K in the last week.

Continuing Jobless Claims rose 2,260K, from 2,259K in the previous week, the indicator was expected to fall to 2.250K in the last week.

Jobless Claims 4-Week Avg. rose 275.75K, from 275.25K in the previous week.

Market Impact: This scenario could support the USD a little bit, but most likely, the market will continue trending in the current range….

Note: EURUSD finds support at the 1.1194 levels, stability above this level on a 4 – hour closing basis, will challenge daily chart resistance at the 1.1225 levels, even may break higher !!! Below 1.1194 will focus again on daily chart support around 1.1140 levels!!!!