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Technical Analysis
Forex Market Commentary By TitanFX
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[QUOTE="titanfx, post: 86193, member: 33464"] [b]US Dollar Remains in Control Post Jobless Claims[/b] [B]Key Highlights[/B] • US Dollar remains in control as the market sentiment is still in favor of buyers. • US Initial Jobless Claims released by the US Department of Labor came in at 297K, whereas the market is expecting it to stay around 275K. • US Continuing jobless claims increased to 2.234M, whereas the expectation was of 2.248M. • Canadian Housing Starts released by the Canadian Mortgage and Housing Corporation came in at 202.81K, whereas the expectation was of 190.00K. [B]USDCHF Technical Analysis[/B] The US Dollar traded higher against the Swiss Franc during the past couple of days. There is a contracting triangle pattern formed on the 4-hours chart, which might clear the way for more upsides in the near term. [IMG]http://s14.postimg.org/6v9qz5d41/USDCHF_07_09_2015.png[/IMG] There are many signs suggesting more gains moving ahead may be towards the 0.9550 mark. [B]US Initial Jobless Claims[/B] Earlier during the NY session, the Initial Jobless Claims, which is a measure of the number of people filing first-time claims for state unemployment insurance was released by the US Department of Labor. The forecast was lined up for a decrease from 281K to 275K in the week ending June 4, as per the advance figure for seasonally adjusted. However, the outcome was below the market expectation, as the US Initial Jobless Claims came in at 297K. The report stated that the 4-week moving average is now 279,500 level, which is 15000 more than compared to the previous week's revised average of 282,000. ------------------------------------------- [B][I]Posted by Aayush Jindal - 'Titan FX Currency Analyst'[/I][/B] [/QUOTE]
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