US Session Bullet Report - USD Strikes Back

USD is back this afternoon after ADP employment report showed that jobs grew by 200.000 in September versus 185.000 expected. EURUSD broke the pivot of 1.1190 and is trading at 1.1180 at time of writing. Support comes at 1.1160. Speculation for ECB president to add on to the QE program next year is increasing, something that could be negative to the value of the EURUSD in the months to come.

GBPUSD is trading higher on the day after news showed that the UK economy grew 0.7% q/q. As a result EURGBP is trading lower on the day after a few days of consecutive gains.
Commodities took another hit with gold tumbling further to 1113 from 11128 earlier. Support lies at 1100.

Focus now shifts to Friday’s Job employment report (NFP) where we shall find out how the US jobs market performed in September and whether there will be more reasons to hike rates in 2015.

Trading quote of the day: A man should look for what is, and not for what he thinks should be. - Albert Einstein.

EURUSD
Pivot: 1.119
Likely scenario: Long positions above 1.119 with targets @ 1.1265 & 1.1295 in extension.
Alternative scenario: Below 1.119 look for further downside with 1.1145 & 1.1115 as targets.
Comment: The RSI lacks downward momentum.

GBPUSD

Pivot: 1.513
Likely scenario: Long positions above 1.513 with targets @ 1.521 & 1.5245 in extension.
Alternative scenario: Below 1.513 look for further downside with 1.509 & 1.5055 as targets.
Comment: The pair has rebounded and has broken above a declining trend line.

AUDUSD

Pivot: 0.6975
Likely scenario: Long positions above 0.6975 with targets @ 0.706 & 0.709 in extension.
Alternative scenario: Below 0.6975 look for further downside with 0.6935 & 0.69 as targets.
Comment: The RSI is well directed.

USDJPY

Pivot: 119.75
Likely scenario: Long positions above 119.75 with targets @ 120.45 & 120.65 in extension.
Alternative scenario: Below 119.75 look for further downside with 119.5 & 119.2 as targets.
Comment: The pair has broken above the upper boundary of a bearish channel and remains on the upside.

USDCAD

Pivot: 1.3385
Likely scenario: Long positions above 1.3385 with targets @ 1.343 & 1.346 in extension.
Alternative scenario: Below 1.3385 look for further downside with 1.334 & 1.3295 as targets.
Comment: The RSI lacks downward momentum.

USDCHF

Pivot: 0.9755
Likely scenario: Short positions below 0.9755 with targets @ 0.9695 & 0.9665 in extension.
Alternative scenario: Above 0.9755 look for further upside with 0.9775 & 0.981 as targets.
Comment: The RSI lacks upward momentum.

GOLD

Pivot: 1129
Likely scenario: Short positions below 1129 with targets @ 1116 & 1110 in extension.
Alternative scenario: Above 1129 look for further upside with 1135 & 1140.5 as targets.
Comment: The RSI is bearish and calls for further downside.

OIL

Pivot: 44.7
Likely scenario: Long positions above 44.7 with targets @ 45.35 & 45.75 in extension.
Alternative scenario: Below 44.7 look for further downside with 44.35 & 43.7 as targets.
Comment: The RSI is mixed with a bullish bias.

DAX

Pivot: 9295
Likely scenario: Long positions above 9295 with targets @ 9753 & 9890 in extension.
Alternative scenario: Below 9295 look for further downside with 9130 & 8895 as targets.
Comment: The RSI is above its neutrality area at 50%.