EUR/USD has low of 1.16695 after better than expected U.S jobs data. US economy lost 33000 jobs compared to forecast of increase of 90000 jobs. But slightly better than expected age growth will boost inflation which is s…
EUR/USD has low of 1.16695 after better than expected U.S jobs data. US economy lost 33000 jobs compared to forecast of increase of 90000 jobs. But slightly better than expected age growth will boost inflation which is slightly positive for USD. The fresh worries over tensions in North Korea preparing to test long range missile has made Euro to increase slightly till 1.17476. It is currently trading around 1.17351.
Economic data released previous confirms 90% chance of rate hike by Fed in Dec. ISM manufacturing and services data beats market expectations.
Technically the pair has formed lower highs and higher low pattern. It has shown a minor jump above 200- W MA at 1.1719 and any close above will take the pair to next level till 1.17650 (55- day EMA and trend line resistance)/1.18325.
On the lower side, major support is around 1.16621 (Aug 2017 low) and any break below will take the pair to next level till 1.15920/1.1500.
It is good to sell on rallies around 1.1755-1.1760 with SL around 1.1835 for the TP of 1.1660/1.15920
