Daily Market Forecast, October 4, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD

As the Non-Farm Employment Change numbers look on Friday, the Euro and Gold will likely see suspicious trading circumstances the next two days. Crude Oil Inventories will come from the States today and Crude Oil could become volatile with a surprise outcome.

EUR/USD: Euro Finds Signs of Support

The Euro began to show signs of better support on Tuesday when the 1.1720 juncture essentially proved an area which produced strong buying. Some traders may want to speculate the Euro has additional value to add, but Friday’s Non-Farm Employment Change numbers from the U.S also loom, which may cause range trading until then.

Gold: Suspicious Eyes Watch Gold

Gold has climbed in the past twenty-four hours as the U.S Dollar has slipped slightly. The precious metal, however, remains in a delicate range and is near 1275.00 an ounce as it is eyed suspiciously. Gold is likely to provide choppy trading over the next two days as important U.S data is awaited on.

Crude Oil: Fireworks Likely in Crude Oil Next 2 Days

Crude Oil remains locked in a tight range after coming off of highs made last week. U.S Crude Oil Inventories will be released today and could provide fireworks the two days. The 49.00 U.S Dollars a barrel support level could come into focus if volatility strikes.

USD/JPY:  U.S. Jobs Numbers Shadow on Yen

The Yen has picked up some strength the last half day as the U.S Dollar has fallen. However, Japanese investors continue to display buying power on the Nikkei Index. The Yen is likely to range trade the next couple of days as traders position themselves for the U.S jobs numbers on Friday.

GBP/USD: Near-Term Reversal Speculation

The Pound was able to become stable on Tuesday as its slide downwards was halted. However, the British currency remains under pressure against the U.S Dollar as it trades below the 1.33 mark. The Pound’s recent decline may have some traders looking for reversals in the near term.

Yaron Mazor is a senior analyst at SuperTraderTV.

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