Euro drops before U.S. employment data

Forex Yard offers you comprehensive daily analysis of the Forex market by a team of experts in technical analysis that is always keen to provide better services to its customers.Euro drops before U.S. employment dataThe EUR saw intense downward movement throughout the trading day yesterday despite positive U.S. data, which helped the U.S. currency. And continue to concerns about debt in the euro area in keeping investors from riskier assets. It is not yet known whether the U.S. employment report will provide support for the euro.Economic AnalysisU.S. dollarReport of U.S. employment in the private sector say the dollar to trend upwardThe Greenback is in an upward direction as a result of yesterday after the ADP ADP, which came in better than expected as well as after the report of the Claims of U.S. unemployment. The dollar rose against the euro and British pound and Japanese yen. The EUR / USD dropped to its lowest level in 11 months while the dollar / yen beyond the level was 77.0 and the ADP ADP when reading 325 thousand, higher than expected at 176 thousand. The ADP report for employment in the private sector is an important indicator for the U.S. employment report, which will be announced today. The U.S. employment report more indicators of global economic importance, and leads to a strong movement in the market. Will measure the number of U.S. jobs report that the new jobs were added in the U.S. economy during the month of December without the agricultural sector. Analysts predict 152 thousand to read this report, although this reading is correct, this will be a sign of a marked increase in reading in November. Certainly, the impact of U.S. Non-Farm Payrolls report on the agricultural sector of the market difficult to predict. On the one hand, 'positive reading tend to support high-risk currencies like the euro and British pound and Australian dollar. On the other hand, if this reading was less than expected, investors may decide to change the direction of their money into safer assets such as the U.S. dollar and Japanese yen. And traders will want to remember that it is very difficult to predict the employment report without reading the agricultural sector and what will come if higher or lower than original expectations.EuroEurozone news are paid in euros to decreaseThe EUR extended its bearish trend on Thursday, the euro zone crisis continues to push investors away from the euro heading to safe haven currencies such as the U.S. dollar and Japanese yen. The euro / yen, its lowest level in 11 of a new year, while EUR / USD to the lowest level since December 2012. The downward movement came despite the U.S. employment data, which benefited from high-risk assets such as the euro. Today, traders will want to focus on the employment report U.S. Non-Farm at 13:30 GMT. While the positive reading is expected, but it is not supposed to adoption of the traders to help them out of the euro this week, a positive tone. In the case of the issuance of any additional negative data from the euro zone is likely to cause a further decline of the euro, particularly against currencies such as the European currency and the Japanese yen.Japanese YenJapanese yen fall against the dollar after U.S. jobs reportThe JPY saw mixed session on Thursday. In exchange for the euro, Japanese yen hit its highest level in 11 years, because of the ongoing series of negative news about the debt crisis in the euro area. At the same time, U.S. economic data led us to employ the positive to the rise of the dollar / yen above the level of 77.0 and today, is likely to cause the U.S. Non-Farm Payrolls report of the agricultural sector in volatility between the Yen pairs. May cause a positive reading of this report in the low versus the Japanese yen after the high-risk currencies like the Australian dollar and British pound. The data came a day without expectations, traders can expect to get the Japanese yen, which holds a safe-haven to support the good against all major currencies.Crude oilCrude oil witnessed a slight decrease but still bullish in generalSeems that the price of crude oil peaked yesterday about the level of U.S. $ 103.60 a barrel before falling in the afternoon trading session. Thus, the price of oil is still at the height of the rise and analysts expect this item to remain above the level of U.S. $ 100 as long as the tensions in the Middle East continues. Today, traders can predict that the direction of the current oil will continue after the recent European Union ban on Iranian crude oil. Moreover, the U.S. employment report came without reading the agricultural sector in conformity with the expectations, it is possible to see the oil with the support of other goods before going out this week.Technical AnalysisEUR / USDAppears on the technical indicators that the pair could see an upward correction in the near future. Has decreased over the Williams on the graph relative to eight hours to the oversold territory, while the relative strength index on the daily chart below the level of 30. Traders may want to go long on this pair.British Pound / U.S. DollarWilliams fell over on the graph relative to eight hours to below the level of -80, which indicates that there is a potential bullish movement. The technical indicators are inconclusive at this time. Traders may want to go long on this pair.U.S. dollar / Japanese yenShows through most of the technical indicators that the pair is oversold. Could be on the Slow Stochastic on the daily chart bullish while the RSI on the oversold territory. Traders may want to buy this pair.U.S. dollar / Swiss francEvidenced by the technical indicators on the daily chart that the pair is overbought and could see a downward correction. It is located over Williams in the relative current above the level of -10, while the RSI is at 70. Traders may want to go short.British Pound / Swiss FrancThe Slow Stochastic on the graph of eight hours a bearish cross, while Williams is the relative on the daily chart on the level of -10. All of these indications that the downward movement may be achieved in the near future. Forex traders may wish to enter into sale before the downwards breach occurs.