Technicals

Add as a preferred source on Google

EUR/USD is trading in narrow range, market eyes US NFP data

RES 4: 1.0950 (Mar 27th high) RES 3: 1.09149 (61.8% retracement of 1.10511 and 1.0711) RES 2: 1.08746 RES 1: 1.0830 (Kijun-Sen) PRICE: 1.08129 @ 12:32 GMT SUP 1: 1.0783 (20 day 4HMA) SUP 2: 1.0680 (61.8% retracement of 1…

1 min read
EconoTimes — Reading the Times. Understanding the Future.

Read the original article

  • RES 4:  1.0950 (Mar 27th high)

  • RES 3:   1.09149 (61.8% retracement of 1.10511 and 1.0711)

  •  RES 2: 1.08746

  •  RES 1: 1.0830 (Kijun-Sen)

    PRICE: 1.08129 @ 12:32 GMT 

  • SUP 1: 1.0783 (20 day 4HMA)

  • SUP 2: 1.0680 (61.8% retracement of 1.04613 and 1.10509)
  • SUP 3:1.0610 (Mar 19th low)

  • SUP 4: 1.0550 (Mar 17th low)

Commentary:

EUR/USD is trading well below 200 day 4HMA and this confirms intraday weakness decline till 1.0600 is possible.

US NFP data which is to be released on Friday will have major impact of USD/JPY further direction. Employment data is expected to add 247000 jobs compared to forecast of 295000.

On the upside minor resistance is around 1.08746 and break above would extend gains till 1.0915. Sell around 1.0850 stop around 1.0950 with target of 1.0600

 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560