Technicals

Add as a preferred source on Google

FxWirePro: EUR/USD loses momentum but outlook is bullish

• EUR/USD initially dipped but later regained ground on Friday after data showed U.S. jobs data slightly missed expectations. • A Labor Department report revealed that non-farm payrolls increased by 142,000 in August, be…

1 min read
FxWirePro: EUR/USD loses momentum but outlook is bullish
Image from the original EconoTimes article

Read the original article

• EUR/USD initially dipped but later regained ground on Friday after data showed U.S. jobs data slightly missed expectations.

• A Labor Department report revealed that non-farm payrolls increased by 142,000 in August, below the 160,000 forecast by economists. Additionally, July's figures were revised down to 89,000.

• The unemployment rate held steady at 4.2%, in line with expectations, an improved from 4.3% the previous month.

• In an up-and-down session, the pair hit low at 1.1071 in early trading then gained towards 1.112 level

• Immediate resistance is located at 1.1135( 38.2%fib), any close above will push the pair towards 1.1200 ( Aug 27th high).

• Strong support is seen at 1.1043 (50%fib) and break below could take the pair towards 1.1000 (Psychological level).

  Recommendation: Good to buy around 1.1090 , with stop loss of 1.0940 and target price of 1.1170

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