Good Day Everyone
Here's an idea on the EURUSD pair, as we've seen the EURO making major recoveries in the last cople of week the pair is in a uptrend which most signals point to it continuing as we go in on the pair..
The EURO has been strong against most major counterparts in the previous weeks in which global sentiments and the counter currency flow where the main drivers.
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> With the European Central Bank (ECB) we saw some short-term buying for the EURO on Thursday.
> As i had mentioned the EURO has had some strong gains as we saw it hit 3 months high on Friday against the dollar after the European Central Bank (ECB) expanded its stimulus programme
> INVEST.COM - Head Of Mizuho Bank Peter Chatwell " The EURO will keep rallying and more towards $1.20 ,adding that ECB ha " dramatically" supported the EURO by reducing tail risk
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- The dollar was modestly higher on Friday after data showed the U.S. labor market unexpectedly improved in May, but the currency ended the week lower, for a third consecutive week, as uncertainty about the U.S. economy capped gains.
INVEST.COM - The Labor Department's employment report showed the jobless rate fell to 13.3% last month from 14.7% in April, which was a post-World War Two high. It came on the heel of surveys showing consumer confidence, manufacturing and services industries stabilizing. Economic conditions have significantly improved as businesses have begun to reopen after shuttering in mid-March to slow the spread of COVID-19. U.S. dollar index =USD late Friday was up 0.18% to 96.93. It was down 1.4% from last Friday's close. On the day, the dollar was 0.38% stronger against the euro EUR= , at $1.129. Against the safe-haven Japanese yen JPY= , the dollar was up 0.44% to 109.61 yen.
"Today you've seen better-than-expected economic data coming out of the U.S. in terms of the jobs numbers," said Chuck Tomes, portfolio manager at Manulife Asset Management. "The reaction on the back of that has been expectations of better growth coming out of the U.S. as well as a steepening yield curve, both of which have provided a lift to the dollar."
The uncertainties about the economic outlook and the possibilities of a second wave of infections had capped the greenback's gains, Tomes added.
Some analysts said the May job gains in might not soon be repeated.
https://za.investing.com/news/forexdollar-lifted-by-jobs-data-but-records-third-straight-weekly-loss-2106098
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We are curretly just above level 1.12754 wich was our resistance level now support the pair pushed through this level came down for a retest possibly signalling continuation to the upside so looking for long entries in the pair...
Target 1 - 1.13902
Target 2 - 1.14984
SL & ENTRY - FOLLOW YOUR RULES
RISK-MANAGEMENT
PERIOD - SWING
Here's an idea on the EURUSD pair, as we've seen the EURO making major recoveries in the last cople of week the pair is in a uptrend which most signals point to it continuing as we go in on the pair..
The EURO has been strong against most major counterparts in the previous weeks in which global sentiments and the counter currency flow where the main drivers.
.
.
> With the European Central Bank (ECB) we saw some short-term buying for the EURO on Thursday.
> As i had mentioned the EURO has had some strong gains as we saw it hit 3 months high on Friday against the dollar after the European Central Bank (ECB) expanded its stimulus programme
> INVEST.COM - Head Of Mizuho Bank Peter Chatwell " The EURO will keep rallying and more towards $1.20 ,adding that ECB ha " dramatically" supported the EURO by reducing tail risk
.
.
- The dollar was modestly higher on Friday after data showed the U.S. labor market unexpectedly improved in May, but the currency ended the week lower, for a third consecutive week, as uncertainty about the U.S. economy capped gains.
INVEST.COM - The Labor Department's employment report showed the jobless rate fell to 13.3% last month from 14.7% in April, which was a post-World War Two high. It came on the heel of surveys showing consumer confidence, manufacturing and services industries stabilizing. Economic conditions have significantly improved as businesses have begun to reopen after shuttering in mid-March to slow the spread of COVID-19. U.S. dollar index =USD late Friday was up 0.18% to 96.93. It was down 1.4% from last Friday's close. On the day, the dollar was 0.38% stronger against the euro EUR= , at $1.129. Against the safe-haven Japanese yen JPY= , the dollar was up 0.44% to 109.61 yen.
"Today you've seen better-than-expected economic data coming out of the U.S. in terms of the jobs numbers," said Chuck Tomes, portfolio manager at Manulife Asset Management. "The reaction on the back of that has been expectations of better growth coming out of the U.S. as well as a steepening yield curve, both of which have provided a lift to the dollar."
The uncertainties about the economic outlook and the possibilities of a second wave of infections had capped the greenback's gains, Tomes added.
Some analysts said the May job gains in might not soon be repeated.
https://za.investing.com/news/forexdollar-lifted-by-jobs-data-but-records-third-straight-weekly-loss-2106098
.
.
.
We are curretly just above level 1.12754 wich was our resistance level now support the pair pushed through this level came down for a retest possibly signalling continuation to the upside so looking for long entries in the pair...
Target 1 - 1.13902
Target 2 - 1.14984
SL & ENTRY - FOLLOW YOUR RULES
RISK-MANAGEMENT
PERIOD - SWING
Trade closed: stop reached
