The EUR/USD ticked higher on the NFP Friday and Monday despite the solid US Unemployment result.
My opinion is that the US Unemployment data was solid. NFP missed the forecast but nevertheless it is still a good number (130k). Wagers ticked higher and the US is at full employment. Technically, the EUR/USD should stay capped below 1.1083 and target 1.1015. Below, we should see a retest of 1.0960 and 1.0980. Thursday will be the most important day for the EUR as the ECB will be deciding about the rate and will release a monetary policy statement.
The analysis has been done with the CAMMACD.MTF template.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.
Many green pips,
Nenad Kerkez aka Tarantula FX
This article was originally posted on FX Empire
More From FXEMPIRE:
- GBP/USD Daily Forecast – British Pound Eases Lower From Resistance
- Price of Gold Fundamental Daily Forecast – Weaker Stocks Could Fuel Counter-Trend Rally
- USD/JPY Fundamental Daily Forecast – Traders Reacting to Rising Treasury Yields
- Brexit Update – Democracy at its Finest…
- AUD/USD Forex Technical Analysis – Short-Sellers Defending Main 50% Level at .6880
- Do Two Weekly Declines Make a Case for Lower Gold Ahead?