Wednesday EURUSD market Started from 1.30940. After some hours we got an uptrend and the uptrend is still continuing. Currently market is at the position of 1.31192.

So as usual today the market will move down slightly based upon the uptrend movements.

Pivot Point Details:

(see fig)

This is the pivot point values for today’s EURUSD. Market started from open point-1.30940 and after some hours it tried to reach the Resistance level of R1-1.3119 and 

 And It can expect Resistance R2-1.3145 and also Support level S1-1.3056. 

(see fig)

CCI Values:

Today morning market opened time CCI values was in the position of +39.70  After some hours it touched +173.30(see Fig). So market is so good for buyers at morning time.

And also here we got a overbought trend so it will continue to upcoming few hours also .so market to day so good for buyers.

But It’s also can get a total down trend might be due to the reason weekly analysis ways

In CCI we can expect sell trend more today.         

News Details:

Our markets watch team has given the detail about Today’s news Analysis.

FXBase Market analysis team says,

”

Retail Sales (MoM) 10:00(GMT) EUR Medium Impact

The retail sales index is the measurement of all goods sold by the retailers. It was usually published monthly in the middle of the month just after the markets open. It was published by the US Census Bureau. Changes in the retail sales are to be considered as an indicator of consumer spending.

The forecasted value is -0.1% if the actual value is greater than the forecasted value EUR can moves in the uptrend, otherwise it can moves in the downtrend.

This time market can get as usual trend change .

ADP Nonfarm Employment Change 13:15(GMT) USD High Impact

This is must give a good positive or negative movement in EURUSD side.so all traders use this session .

The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients. The release, two days ahead of government data, is a good predictor of the government’s non-farm payroll report. The change in this indicator can be very volatile.

The forecasted value is 125K if the actual value is greater than forecasted value USD can moves in the uptrend, otherwise it moves in the downtrend.

Nonfarm Productivity(QoQ) 13:30(GMT) USD Medium Impact

Nonfarm Productivity measures the annualized change in labor efficiency when producing goods and services, excluding the farming industry. Productivity and labor-related inflation are directly linked-a drop in a worker’s productivity is equivalent to a rise in their wage.

The Forecasted value is 2.7% if the actual value is greater than actual value means USD can moves in the uptrend, otherwise it moves in the downtrend.”

So the final report is that the market will reach R1 - 1.3119 soon

& P- 1.3082.

News events may change the forecast, Trade at your own risk. News.fxbase will not be responsible for any kind of loss in your trades.