Keep your eye on the U.S. .
Why Is This Important?
The Nonfarm Payrolls track the change in the number of people employed by the U.S. in manufacturing, construction and goods companies. It does not include farming industry employment. The Jobs Report is so important for the upcoming Fed decisions.
Last Wednesday, the printed at 67K, large miss on the expected 140K expected, it was the lowest level since May.
Watch out for the U.S. Nonfarm Payrolls today. Nonfarm Payrolls is expected to see 180K jobs created after rising 128K the previous month. The is expected to stay at 3.6%. will also be significant and are expected to be 0.3% which is higher than the previous month’s number of 0.2%. An upbeat employment report will point to an improving U.S. economy and support the .
In addition to US Jobs Report, we will also focus on Canada Unemployment Rate today. Unemployment Rate for November is expected to stay at 3.6%.
: Ahead of U.S. Nonfarm Payrolls, we will closely watch the key resistance level of 1.1114. In order for the upward movement to continue, it needs to go beyond and stay above 1.1114 on four hourly basis. At this point, we will see 1.11.65 as a daily resistance level. Otherwise, we will follow the support level at 1.1052 again.
Support : 1.1052 – 1.0979 – 1.0837
Resistance : 1.1114 – 1.1165 – 1.1237
GBP/USD: We are closely watching the 1.3136 main resistance level. In order for the rise to continue, it needs to break out and stay above 1.3136 on a four hourly basis.In this case, the next daily resistance level will be at 1.3231. Otherwise, the daily support level can be found at 1.3046.
Support: 1.3136 – 1.3231 – 1.3313
Resistance: 1.3046 – 1.2947 – 1.2838
: The USD/JPY pair moved back up above the 108.79 level. If the price stays above 108.79 on a four hourly basis, we will face 109.09 as the daily resistance level. Otherwise, if the price drops below 108.79 again, we will follow the next support level at 108.52.
Support : 108.79 – 108.52 -108.14
Resistance: 109.09 – 109.39 – 109.72
GOLD: Focus on the main resistance level of 1478 in the . In order for the rise to gain more momentum, it needs to break out and stay above 1478 on a four hourly basis. Should this occur, the next resistance level can be seen at 1492. Otherwise, the support level can be found at 1466 again.
Support: 1466 – 1453 – 1440
Resistance: 1478 – 1492 – 1509
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