US Employment Strongly Increased in October; Unemployment Rate Fell to 4.1%

The index has already declined 1.6% in the past 24 hours, with an RSI of 35 indicating weakness and a MACD that is negative below its signal line. Prices are trading below both the 20‑ and 50‑period simple moving averages. This technical backdrop supports a short‑term downside risk. However, the RSI’s proximity to the oversold zone could trigger limited buying responses. Consequently, while the bias remains downward, confidence should be maintained at a moderate level.

Strong employment data and a declining unemployment rate are increasing expectations that the Fed may delay interest rate cuts, supporting the DXY. The price is above SMA20 and SMA50 and has risen 0.73% in 24 hours; MACD is in positive territory. However, RSI14 is at 75, close to overbought territory, which brings with it the risk of a short-term correction. Overall, the data favors the dollar, but some of the momentum may already be priced in. In the 1-3 day outlook, a moderate upward bias stands out.

Strong employment data is macro-positive but could weaken rate cut expectations, potentially creating a mixed impact on technology stocks. GOOGL has risen 2.9% in the last 24 hours and is trading just above the SMA20 but below the SMA50. The RSI is at 50.7, in neutral territory; the MACD is negative but above the signal line, indicating a slight recovery. In the short term, the news impact may be limited; resistance at 288-289 and support at 286 should be monitored. Due to directional uncertainty, a cautious neutral view is appropriate.