NFPs rose to 196K, compared to expectations of 180K and, given that hourly earnings decelerated to 3.2%, the EURUSD closed the hour at a Dollar loss, with more than 30 pips of volatility.
From the top, the pair is bounded by the 1.1233 (FE 38.2%) Resistance level, where the EURUSD is currently trading around, with the next Resistance being at the 200HMA at 1.1235. Support is currently at 1.1213, a level which could not be breached yesterday, and following that at 1.1200.
Indicators are showing signs of a downwards movement, with this being more evident in the Stochastics than the MACD indicator. The RSI offers no signals of over- or under-buying.
Click here to access the Economic Calendar
Dr Nektarios Michail
Market Analyst
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
