The Euro
versus the Dollar rallies for today after the disappointing Non-Farm Payrolls
reading out of the US. The reading was expected at 245 thousand new jobs
created for the month of March, but it really came out at 126 thousand new
jobs. That is why we saw that the EUR/USD rallied for today, but once it got to
the 1.1000 level, it stopped there. On the Daily chart we can see that the
1.1000 zone has been a good resistance area in the past and it looks like it is
going to take more than a weak payrolls reading to have the pair break above
that zone. Let’s see if there is continuation to the upside during next week or
if the price comes back down.
Excellent analysis, you hit the essence.
ReplyDeleteThe pair seems unstopable
ReplyDeleteI think it will continue at least until it reaches 1.1050.
ReplyDeleteGreat Information! Thanks!
ReplyDeleteGreat analysis.
ReplyDeleteThe resistance level 1.100 still holds.
ReplyDeleteGap up.
ReplyDelete