EUR/USD trades slightly weak after US NFP data. It hit an intraday of 1.14945 and currently trading around 1.13992.
|
Month |
Actual NFP |
Unemployment Rate |
Avg. Hourly Earnings (YoY) |
|
May-25 |
139,000 |
4.20% |
~3.7% (expected) |
|
Apr-25 |
177,000 |
4.20% |
3.80% |
The pair is holding above short and long-term moving averages in the 4-hour chart. Near-term resistance is seen at 1.1500; a break above this may push the pair to targets of 1.1600. Major bullish momentum is likely only if prices are able to break above the 1.160 target of 1.1660. On the downside, support is seen at 1.13780 any violation below will drag the pair to 1.135/1.1300/1.1265/1.1200/1.1150/1.1090/1.1050/1.100.
Market Indicators and Trading Strategy
Commodity Channel Index (CCI)- Bullish
Average Directional Movement Index (ADX) - Neutral
It is good to buy on dips around 1.13780 with a stop-loss at 1.1340 for a target price of 1.1500/1.1600.
