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What to expect from EUR / USD after US data today

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EUR / USD

Medium-term upward movement. The price is above basic technical support at 1.1320. With better data from the NFP, we will probably see a USD increase. Breaking and keeping the price below 1.1320 will give us possibility to take a short position.

Higher tops. If US data we expect at 15:30 for NFP and unemployment rate are positive, we can see a rise in the dollar. If the data is worse, the decline of the USD will continue.

If the NFP data is not well above expectations, investors will also look at Average Hourly Earnings, and if they are higher than expected, this will affect USD positive and we may see a drop in the pair.

If the price breaks the support at level 1.1110 and stay below it, the sentiment towards the dollar will turn to positive and we will be able to look for EUR / USD short positions. With SL 1.1170

Junior Trader Stefan Panteleev


 Varchev Traders

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