Technical Analysis

The USD moves higher after the better US employment numbers

EURUSD moves below and away from 100 day MA. USDJPY moves back to tthe highs for the week

The USD is heading higher after the US jobs added more jobs vs expectations.   Yields are higher.  Stocks are lower.  Gold is lower (down -$16.50). 

Traders are still expecting 25 basis points in July but estimates for 50 bps have been scaled back to 15%. 


  • The EURUSD was lower on the day ahead of the jobs numbers, but was trading above and below its 100 day moving average awiting the data at 1.12584. The data has pushed the price below an old swing area at 1.1242-46 to a low of 1.1233.  We currently trade at 1.1242 (in that swing area).  Traders will likely use the 100 day MA now as a line in the sand for bulls/bears.  As long as the price stays below, the sellers are in control. The next target is at a lower trend line on the hourly at 1.1221. Then the 1.1200-02 area will be eyed. The low from June 18 came in at 1.11808.  




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