Based on the above daily chart, EUR/USD shows a Bearish Trendline in the long shadow candlestick format. EUR/USD further movement perhaps tried to break through support at 1.2789 and if it broke through support then the next target is 1.2730.

Trading Recommendations: Wait a bullish move and when back through support at 1.2870 take a sell position at 1.2865.

GBPUSD:

Based on the daily chart, GBP/USD bearish trend seen in the dark cloud of candlestick format. GBP/USD possibility of further movement tried to break through support at 1.5150 and if it broke through support then the next target is 1.5123.

Trading Recommendations: Wait a bullish move and when back through support at 1.5215 take a sell position at 1.5210.

USDJPY:

Based on the daily chart, USDJPY looks in trend bearish dragonfly doji candlestick format. USDJPY possibility of further movement tried to break through support at 92.80 and if it broke through support next target is 92.38.

Trading Recommendations: Wait a bullish move and when back through support at 93.58 t sell at 93.55.

USDCHF:

Based on the daily chart, USDCHF bearish trend evident in candlestick format with short day. USDCHF possibility of further movement tried to break through support at 0.9437 and if it broke through support then the next target is 0.9410.

Trading Recommendations: Wait a bullish move and when back through support at 0.9465 take a sell position at 0.9460.

AUDUSD:

Based on the daily chart, AUDUSD looks bullish trend in candlestick format long day. Possibility of further movement tried to break resistant AUDUSD at 1.0477 and if it managed to penetrate resistant then the next target is 1.0485.

Trading Recommendations: Wait for a bearish move, and if re-pierce resistant at 1.0434 take buy position at 1.0435.

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Earlier last weekend, the price of gold fell sharply as the U.S. hit by economic data, non-farm payrolls, which in other words, this makes the price of gold fell by nearly 1.560 per ounce. But then the price of gold rebounded and made the closing near to the opening price

The positive price movement of the gold again is the indicative of some market participants that diminishing selling pressure on gold trading at these times. The fall of the gold price used some parties to take action to buy back.

On the other hand, the reasons behind the fall of prices of Gold is correlated with the Italian debt by Fitch. In other parts, Hong Kong’s economic data showed that gold exports declined in the past three months on the lowest rate at 27.3 tons in January. However, Commerzbank said that gold purchases in China since the Chinese New Year has increased twice as cheaper than the price of gold.

Referring to the weakening of the Euro in which some market participants use to INDICATE the price movement of gold, THEREFORE the fall of the Euro over the U.S. dollar today, will give you an idea that the price of gold is predicted to decline in the trade END OF today.

Alongside these news, the OVERALL shares on the US stock market today on Monday dropped after only last weekend, it was being recorded Dow Jones Industrial Average hit its highest closing record as China’s industrial product data slowed down.

At Dell shares rose 0.8% in early trade while the Nasdaq Composite Index dropped 06.06 points, or 0.2%, at 3,237.72 levels. In short, the Dow Industrials down 3.3 points, at the level of 14,393.82 and the S & P 500 was down 1.4 points at 1,549.79. Without U.S. economic data on Monday, the market participants are focusing on the China’s market data.

Chinese consumers’ inflation jumped 3.2% in a year in February, up from 2% in January in the biggest gain since April 2012. The increase came after the Lunar New Year holiday in China, which often result in price hikes of food and other goods.

Meanwhile, Chinese Industry Products growth will move more slowly in January and February.

In the clothing retailer, Urban Outfitters is expected to report its fourth-quarter profit of 57 cents per share on sales of $ 850.5 million, according to analysts surveyed by Bloomberg/factset/financial times.

Investors are waiting for the data as a measure of nonfarm payrolls to predict the health of the economy and indeed to anticipate the Federal Reserve in the future. Fed officials have said that interest rate policy will continue until the unemployment rate fell to 6.5% and inflation rose to 2.5%.

However, bond purchase program known as quantitative easing is likely to stop much more quickly than planned, if the Fed sees a continuation in the following weeks!

Todays’s market announcement would indeed create a question, would GBP/USD rebound this weekend? will the Eur/USD strengthen its positions?

As a trader, we need to take a number of points into considerations:

First, the projected decline in the European economic growth with high inflation expectations is not good for the Euro, which had previously been weakened. However, optimistic outlook for the mid-to-2 years has sparked the movement over EURO.

The excessive amount of flow of funds into the Euro zones caused by Asraf Laidi’s explanation when Draghi did not mention ‘appreciation for the Euro’ as a risk factor in the growth rates fell as did their (ECB) in February.

The euro versus the U.S. dollar rose to its highest level this week at 1.3112 against the dollar on Thursday, after posting gains of more than 1% in a day, something that only happened one time before this year.

Technically, Pivot EUR / USD is at 1.3060. As long as prices traded above the area, the pair of EUR / USD potentially strengthened by heading to 1.3120 to 1.3175

Keep an eye on the eur/usd! beware if the price goes below 1.3064!

The US Company and job operators announced they would increase the employments to  236,000 (U.S. Labor Department report today, bloomberg)

Meanwhile, surprisingly, the unemployment rate fell to 7.7%, the lowest level since the end of 2008.

Survey of economists conducted by Dow Jones Newswires had to estimate the employment rate has increased by 160,000 in total and the unemployment rate dropped to 7.8% thus figures in February showed an improvement in the labor market.

Last year, the economy grew at an average of about 183,000 jobs per month. However, for four months, the doubt slightly rose by an average of 205,000 per month as reported earlier today.

Today’s report also showed that private enterprise has opened 246,000 jobs starting this month in the fields of professional and business services such as accounting, construction, health and retail. While the manufacturing sector had been increased by 14.000 jobs.

As the dollar strengthened after the U.S. Labor Department announced sector employment increased by 236,000 jobs in February, far from the expectations of 160,000, after rising as much as 119 000 in the last month.

EUR / USD touched 1.3011 level during the European trading day, which is then consolidated down 0.63% at 1.3027. Currency pair is likely to find support at 1.2929 level and the resistance level at 1.3134 level.

Meanwhile, the euro weakened against the pound, with EUR / GBP fell 0.29% at 0.8716 level.

This somehow fed a little reason to add monetary stimulus that pushes prices since 2008.Bullion for immediate delivery traded little changed at $ 1,577.57 an ounce in Singapore. The metal is up 0.1 percent in the five days after four weeks of decline. Silver fell 0.4 percent to $ 28.81 per ounce.

Gold lost 5.8 percent this year and silver’s price dropped to 5.1 percent as signs of strong U.S. economy helped push the MSCI All-Country World Index of equities at 5.7 percent.

The dollar index, which typically moves in the opposite direction to gold, rose at 3.1 percent. Goldman Sachs Group Inc. said on February 25 that the cycle of bullion has changed as the economy recovers, four days after Credit Suisse Group AG said the direction is bullish for gold

The number is really important to be observed in the non-farm payrolls tonight, which might drag gold prices lower.

People move away from gold to other assets. Economists predict that the Labor Department will announce today either payroll expanded by 165,000 in February or after rising 157,000 the previous month, while the unemployment rate stayed at 7.9 percent.

Optimism depressed economy with gold but increased platinum and palladium, which are used in the automotive and other industries,.

Platinum rose 0.4 percent to $ 1,602 per ounce, and is set to increase 1.8 percent this week, snapping a three-week decline. Price 1.02 times more expensive than gold today.

Gold has gained around 79 percent since the Federal Reserve began to purchase assets in 2008. Palladium was little changed at $ 756.90 per ounce.

While the pipe band North Sea remains closed to this day, having found oil leaks since March 2 on the Alpha platform. For WTI oil, on April, it is projected to deliver a reduced of  13 cents, at $ 91.43 per barrel level, in electronic trading on the New York Mercantile Exchange at 15:25 pm Singapore time.

In the WTI oil contract traded volume reached 16% below the average 100 days.

Meanwhile, Brent oil for delivery in April fell  to16 cents at $ 110.99 per barrel level, on the ICE Futures Europe exchange (London)

Observed difference Brent oil price of WTI oil has narrowed the $ 16.56 figure.

The ECB did cut its growth forecast this year, but Draghi said economic activity will recover gradually given the global demand began to increase again.
Although he acknowledged the data was dissapointing and that trimming was raised, the council finally agreed the economy was worst before the ECB decided to tackle the issue.

He also predicted inflation’s expectations remain under control, in accordance to the ECB’s goal of keeping inflation below to 2%.

In a statement, he also rejected suggestions over the Italian political uncertainty, which then may adversely affect efforts to alleviate the crisis.
According to financial analysts, the proposal Draghi offered on one hand succeeded in reducing anxiety instead by giving a little hope and on the other hand, no real supports being proposed in the business cycle.

Another factor that lifted the euro is a successful Spanish bond auction. Spain managed to sell 5 billion euros of bonds, according to the target with a lower yield, which reduced anxiety about the impact of political turmoil in Italy.

Despite the strong euro, ECB statements including projections of growth and inflation remained negative for the euro zone.

Economic inequality will someday be increasingly important for the exchange rate and as  compared with other central banks such as the Fed, BOE, and BOJ, the ECB’s behind the desk policy in providing resolutions to help business cycle, despite the fact that the eurozone economy, is worst than the U.S., UK and Japan.
The euro rose 1.1% to $ 1.3116, its highest in five days.

After noting the sharp strengthening, it is very difficult indeed for the euro to be able to continue the rally when the future is not supported by positive economic data.

EU Fundamentals will someday be pressed again. If the currency could climb, the euro will find it hard to survive in the range of $ 1.32 to 1.33. Against the yen, the euro shot 2.1% to 124.57, its highest in a week.
Sterling rebounded from the lowest level in 2.5 years after the BOE does not resume its asset purchase program.

Previously had been speculation of the BOE, the final rate would increase QE by 25 billion pounds to 400 billion pounds.

However, it is difficult for sterling to get back to the trend of strengthening economic conditions without the support of a solid fundamental e.g. the cable traded at $ 1.5006.
The market is now waiting for U.S. employment data, or non-farm payroll. Employment is expected to grow by 160 000 during February and the unemployment rate steady at 7.9%. This data can affect the perception of how long the Fed would run the monetary stimulus.

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