Forex Videos

The Wall Street finished on Friday after the release of strongest monthly National Employment report of the year bolstering the case for a December Interest rate hike from Federal reserve. The Dow Jones rose by 0.26%, S&P 500 fell by 0.03% and NASDAQ added 0.38% to its value. The US Dollar traded high against most major currencies on Friday after the release of strong US Employment data. The Non Farm Employment Change came out better than expected at 271K vs. 181K forecast with Unemployment rate unchanged at 5.0%. No major economic data is expected today. Gold fell to close at $1,088 an ounce. Crude oil fell to close at $44.54 a barrel.
The Euro finished lower versus the US Dollar to close at 1.0732. According to 8 hour chart the pair is trading between the lower bands of Bollinger bands. Holding these conditions could drop it towards 1.06 while crossing above the mid band may take it back to higher areas towards 1.1150. The Pound fell 1.03% versus the dollar on Friday to close at 1.5058 despite the Manufacturing Production came out better than expected at 0.8% vs. 0.4% forecast. According to 8 hour chart the pair is trading below the resistance level at 1.5110 with negative momentum indicator below 0. Maintaining these conditions could push it down to towards 1.49 while breaching resistance may lead to a rise towards 1.5250.