Fundamental Backdrop
1. US Unemployment Claims were better than previous from 192k to 190k.
2. Unemployment dropped which showed that the the labor-market is improving .
3. Still alot of mixed sentiments in the market due to the mixed results of US data releases.
4. All eyes will be on NFP next week to see if the strong result will continue.
Technical Confluences
1. Price is currently respecting the H1 area of support at 1.0576.
2. Will be looking for price to undergo a retracement to the H1 resistance at 1.0634.
Idea
Expecting price to continue heading down after tapping into the H1 level of resistance.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
1. US Unemployment Claims were better than previous from 192k to 190k.
2. Unemployment dropped which showed that the the labor-market is improving .
3. Still alot of mixed sentiments in the market due to the mixed results of US data releases.
4. All eyes will be on NFP next week to see if the strong result will continue.
Technical Confluences
1. Price is currently respecting the H1 area of support at 1.0576.
2. Will be looking for price to undergo a retracement to the H1 resistance at 1.0634.
Idea
Expecting price to continue heading down after tapping into the H1 level of resistance.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.