Weekly IForex Market News Update Report by epicresearch 14th April 2014


Posted April 14, 2014 by epicsgx

USD/JPY was down 0.61% and trading at 103.29, up from a session low of 103.25 and off a high of 104.13.The pair was expected to test support at 102.80, Monday's low, and resistance at 104.12, the earlier high.

 
Forex - USD/JPY dips on lackluster U.S. March jobs report
Forex - Dollar mixed to lower on uninspiring March jobs report
Forex - EUR/USD remains lower on ECB expectations, shrugs off U.S. jobs data

USD/JPY
USD/JPY was down 0.61% and trading at 103.29, up from a session low of 103.25 and off a high of 104.13.The pair was expected to test support at 102.80, Monday's low, and resistance at 104.12, the earlier high.In the U.S. Earlier, the Department of Labor reported that the U.S. economy added 192,000 jobs in March, missing expectations for a 200,000 increase. February's figure was revised up to a 197,000 rise from a previously estimated 175,000 increase, while January's figure rose to 144,000 from 129,000.The private sector added 192,000 jobs last month, below expectations for a 195,000 rise, while February's figure was revised up to 188,000 jobs added from a previously estimated 162,000 increase.The report also showed that the U.S. unemployment rate rem

EUR/USD
EUR/USD was down 0.14% at 1.3701, up from a session low of 1.3673 and off a high of 1.3731.The pair was likely to find support at 1.3643, the low from Feb. 27, and resistance at 1.3820, Wednesday's high.In the U.S. earlier, the Department of Labor reported that the U.S. economy added 192,000 jobs in March, missing expectations for a 200,000 increase. February's figure was revised up to a 197,000 rise from a previously estimated 175,000 increase, while January's figure rose to 144,000 from 129,000.The private sector added 192,000 jobs last month, below expectations for a 195,000 rise, while February's figure was revised up to 188,000 jobs added from a previously
estimated 162,000 increase.The report also showed that the U.S. unemployment rate remained unchanged at 6.7% last month compared to expectations for a 6.6% reading.

INTRADAY OUTLOOK
Support: 1.0835
Resistance: 1.0995

RECOMMENDATION:

1. Buy USD/CAD Above 1.0995- TG: 1.1035/ 1.1095 SL 1.0935
2. Sell USD/CAD Below 1.0835- TG: 1.0795/ 1.0735 SL 1.0895

INTRADAY OUTLOOK
Immediate Support: 1.6690
Immediate Resistance: 1.6825

RECOMMENDATION:

1. Buy GBP/USD Above 1.6830- TG: 1.6870/ 1.6930 SL 1.6770
2. Sell GBP/USD Below 1.6690- TG: 1.6650/ 1.6590 SL 1.6750

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Last Updated April 14, 2014