Black Pipper

Forex Dreamers

EUR/USD: Euro calls for disappointing NFP to break daily highs near 1.1050

On the daily chart, the common currency is in a downtrend among the major SMAs. The US NFP on Friday showed that the number of new jobs in August was 130K, behind the 158K forecast. However, the average hourly earnings were able to convince with an increase of 3.2% on an annual basis, as the forecast was only 3.1%.

The EUR/USD has risen in response to this publication by 20 pips. The EUR/USD has resistance at 1.1038 while trading below the 100/200-SMA. The cops seem unconvinced, but sellers need to break through the 1.1009 support to target the 1.0981 and 1.1063.

Technical Levels

S1 1.1006
S2 1.0977
S3 1.0938

R1 1.1074
R2 1.1113
R3 1.1142

 

Leave a Reply

Your email address will not be published. Required fields are marked *