EURUSD → How will NFP affect the pair? Down to 1.0600?

May 3

EURUSD is facing strong support at 1.0600. A rebound and counter-trend correction within the downtrend is forming. Traders are waiting for Friday's NFP



Globally, the currency pair is in a bear market phase. There is a strong struggle for the 1.0700 area, especially ahead of Non Farm Payrolls, which may determine the medium-term outlook. Traders expect the NFP to be lowered to 238K, compared to the previous 303K. On the background of high news volatility, the price may test the liquidity zones above the price before continuing to fall, as the general background for the currency pair is still negative.

Resistance levels: 1.07365, 1.0800, 1.08643
Support levels: 1.0703, 1.0606

Based on the general data there is a probability to see a positive NFP for the dollar, which in general will continue to have a negative impact on the currency pair. But the problem with economic news is still that it is high uncertainty.

Regards R. Linda!

May 3

Trade active

On the background of the news the expected growth to the resistance area is formed

May 4

Trade active

A rebound from the indicated resistance is being formed. News noise is losing its potential

May 7

Trade active

The resistance area does not let the price up. Possible retest of 1.07

May 8

Trade active

The realization of the false breakdown of resistance continues. The currency pair continues to lose positions