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GBP/USD Technical Analysis: 100-hour SMA continues to cap the immediate upside

• The pair held on to its positive tone through the early North-American session, albeit continued with its struggle to build on the momentum further beyond 100-hour SMA.

• Meanwhile, mixed technical indicators on hourly/daily charts haven't been supportive of any firm direction and hence, any subsequent up-move is more likely to remain capped.

• The top end of a short-term descending trend-channel, currently near the key 1.30 psychological mark, should keep a lid any subsequent up-move beyond the mentioned hurdle.

GBP/USD 1-hourly chart

GBP/USD

Overview:
Today Last Price: 1.296
Today Daily change %: 0.08%
Today Daily Open: 1.2949
Trends:
Daily SMA20: 1.2997
Daily SMA50: 1.2808
Daily SMA100: 1.2892
Daily SMA200: 1.3027
Levels:
Previous Daily High: 1.2997
Previous Daily Low: 1.2854
Previous Weekly High: 1.3212
Previous Weekly Low: 1.3043
Previous Monthly High: 1.3214
Previous Monthly Low: 1.2438
Daily Fibonacci 38.2%: 1.2942
Daily Fibonacci 61.8%: 1.2908
Daily Pivot Point S1..

Gold climbs toward $1315 area, eyes on Wall Street

DXY stays in the negative territory on Friday.
U.S. – China trade conflict continues to hurt the sentiment.
US stocks futures point to a negative start.

After dropping to a fresh 10-day low of $1302.70 on Thursday, the XAU/USD pair reversed its course and started to retrace this week's fall with the precious metal finding demand as a safe-haven. At the moment, the pair is trading a little below $1315, adding 0.38% on a daily basis.

Reports of U.S. President Trump not planning to meet Chinese President Xi Jinping ahead of the March 1 deadline revived concerns over the possibility of the trade conflict lasting longer than initially anticipated. The souring market mood toward the end of the week weighed on risk-sensitive equity indexes and Wall Street is signalling a lower start to the day with the S&P 500 Futures dropping 0.5% ahead of the opening bell.

The modest selling pressure surrounding the greenback on Friday provides an additional boost to the pair as well as investors ..

USD/CAD Technical Analysis: Greenback drops to 1.3250 level on Canadian data

USD/CAD daily chart

USD/CAD is trading in a bull trend above the 200-day simple moving average (SMA).
In Canada, Net Change in Employment rose to 66.8K versus 8K expected in January, sending the CAD up.

USD/CAD 4-hour chart

USD/CAD is trading between the 100 and 200 SMAs suggesting sideways trading in the medium-term.

USD/CAD 30-minute chart

USD/CAD is trading below its main 50 and 100 SMAs suggesting a slow down in the bullish momentum.
Big bears came in the market and the drop is likely to extend to 1.3105 to the downside.
Resistance is seen at 1.3270 and 1.3300 figure.

Additional key levels

USD/CAD

Overview:
Today Last Price: 1.3242
Today Daily change: -58 pips
Today Daily change %: -0.44%
Today Daily Open: 1.33
Trends:
Daily SMA20: 1.3243
Daily SMA50: 1.3367
Daily SMA100: 1.3227
Daily SMA200: 1.3136
Levels:
Previous Daily High: 1.3318
Previous Daily Low: 1.3202
Previous Weekly High: 1.3287
Previous Weekly Low: 1.3069
Previous Monthly High: 1.3664
Previous Monthly Low..

USD/CAD hammered down to session lows, below mid-1.3200s on solid Canadian jobs data

• The number of people employed grew by 67,000 in January; unemployment rate ticks higher to 5.8%.
• A goodish bounce in oil prices and a modest USD retracement prompt aggressive long-unwinding trade.

The USD/CAD pair finally broke down of its Asian session consolidation phase and tumbled below mid-1.3200 in a knee-jerk reaction to the upbeat Canadian jobs report.

Data released this Friday showed that the number of people employed in the Canadian economy grew by 67,000 in January, surpassing even the most optimistic estimates, and largely offset a larger than expected rise in the unemployment rate.

The commodity-linked currency – Loonie got an additional boost from a goodish recovery in crude oil prices, which coupled with a modest US Dollar retracement further collaborated to the pair sharp intraday slide of nearly 100-pips from two-week tops.

Today's downfall snaps four consecutive days of the winning streak and hence, it would now be interesting to see if the pair is able t..

Canada: Net change in employment in January rises 66.8K vs 8K expected

“The number of people employed grew by 67,000 in January, mostly among youth aged 15 to 24 and in the services-producing industries,” Statistics Canada reported on Friday.

Key takeaways from the press release

The unemployment rate increased 0.2 percentage points to 5.8% as more people looked for work.
On a year-over-year basis, total employment was up 327,000 or 1.8%, reflecting increases in both full-time (+166,000) and part-time (+162,000) work.
Over the same period, total hours worked were up 1.2%.
In January, the number of employees increased by 112,000 in the private sector, while it was little changed in the public sector for the third consecutive month.

USD/JPY Technical Analysis: Remains confined in a narrow trading range below 110.00 handle

• The pair has been oscillating within 60-70 pips broader trading range since the beginning of this week and has managed to hold/defend confluence support.

• The mentioned support, comprising of 200-hour EMA and a five-day-old ascending trend-line, might now act as a key pivotal point for intraday/short-term traders.

• Given repeated rejections near the 110.00 handle, neutral technical indicators on hourly/daily charts point to indecision over the pair’s near-term trajectory.

• Hence, it would be prudent to wait for a convincing breakthrough the recent trading range before traders start positioning for the next leg of a directional move.

USD/JPY 1-hourly chart

USD/JPY

Overview:
Today Last Price: 109.78
Today Daily change %: -0.06%
Today Daily Open: 109.85
Trends:
Daily SMA20: 109.35
Daily SMA50: 110.49
Daily SMA100: 111.77
Daily SMA200: 111.27
Levels:
Previous Daily High: 110.09
Previous Daily Low: 109.61
Previous Weekly High: 109.74
Previous Weekly Low: 108.5
Previous Month..

EU’s Barnier: EU will not reopen the Withdrawal Agreement

“I am looking forward to meeting Steve Barclay in Brussels on Mon evening. I will listen to how the UK sees the way through. The EU will not reopen the Withdrawal Agreement. But I will reaffirm our openness to rework the Political Declaration in full respect of EUCO guidelines,” the EU's Chief Brexit Negotiator, Michel Barnier, recently tweeted out.

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