Daily analysis of major currency pairs for September 4, 2017

European stocks closed with rallies for a third consecutive session on Friday, helped by the news that the European Central Bank will probably wait for December to unveil a plan to cut asset purchases.

The weaker-than-expected US job data also helped stimulate the positive mood of the stock markets as it reduced the likelihood that the Fed would raise interest rates again this year. Stoxx Europe 600 finished 0.6% up to a closing price of 376.14, recording 0.6% weekly growth. The European benchmark rose 0.8% on Thursday but still recorded a loss of 1.1% in August, marking a third consecutive month at a loss. On Friday, US stocks ended the week and the first trading day in September as profit as weaker-than-expected job rises could lower the Federal Reserve's desire to increase credit spending for 2017.

Dow Jones Industrial Average reported a 0.2% growth to 21,987.56, helped by General Electric Co., Chevron Corp. and Nike Inc., recording a weekly increase of 0.8%. The S & P 500 ended with a 0.2% rise, supported by the energy, commodities and finance sectors, registering a weekly 1.4% growth. Technological Nasdaq Composite Index rose 0.1% to a closing price of 6,435.33 points after briefly falling into negative territory. The index recorded a weekly profit of 2.7%, taking into account the biggest growth in December.

EUR / USD

The single currency recorded a decrease against the US dollar on Friday. The session started at 1.1909 and the euro bounced off the resistance at 1.1910. After a volatile session, the currency pair ended at 1.1864. If the pair continues to move down, we can expect a test at levels around 1.1735. On the upside, the euro will focus on the resistance at 1.1910.

Support: 1.1735; 1.1670;

Resistance: 1.1910; 1.2080;

GBP / USD

The British pound recorded a modest rise against the US dollar on Friday. The currency pair opened at 1.2928 and the pound added 26 pips. The chart continued to grow above the creeping averages, while the relative strength index remained neutral. If the upward direction persists, the pair will probably break the first resistance at 1.2980.

Support: 1.2840; 1.2780; 1.2700;

Resistance: 1.2980; 1.3100;

USD / CHF

On Friday, the US dollar recorded a volatile session against the Swiss franc. The currency pair opened at 0.9585 and finished 60 pips higher. Daytime extreme values ​​were reached at 0.9546 and 0.9652 respectively. If the bullish mood continues, there will probably be a breakthrough in the first resistance at 0.9700.

Support: 0.9555; 0.9450;

Resistance: 0.9700; 0.9760;

USD / JPY

The US dollar recorded a modest rise against the Japanese yen on Friday. The session started at 109.97 and finished 28 pips higher. The chart continued to grow above the creeping averages, while the relative strength index remained neutral. In the short term, positive moods prevail, with indicators going over their average lines.

Support: 108.80; 107.80;

Resistance: 110.20; 110.90;

* This material does not constitute a recommendation for the purchase / sale of securities.