Kim Cramer Larsson
Join Kim Cramer-Larsson, technical analyst at Saxo Bank, for the latest developments from a chart perspective as we head toward the US presidential election day of November 8.
Squawk / 09 October 2016 at 22:13 GMT
Trader, Analyst / Individual Trader
WEEK 41 (10.10.2016 - 16.10.2016) [EURUSD][FUS500][USDJPY]

NFP release was not bad, enough to sustain recovery in labor market. Especially wage growth which met expectations. However EURUSD managed to develop interesting recovery move and finished the day with bullish tone. Price moved back into the range and gives chance for bullish brake out. Something that was highly unlikely on Thursday.

Regarding GBPUSD, I have the same view as on EURUSD, without strong move down on Monday I see GBP recovering recent losses. Volume was low during plunge and buy action was pretty strong. There are already really big buys placed in the market, possible for long term trades (0.5-1 year +). This means reaching latest low is highly unlikely.

Short Term: Bullish
Medium Term: 1.05
Long Term: Bullish 1.20+

Short Term: None
Medium Term: 2105
Long Term: Lower limit 1875

Short Term: Bearish
Medium Term: None
Long Term: Lower limit 98.60-70


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