The market is eagerly anticipating the release of non-farm payrolls, projected to grow by 198,000, compared to January's increase of 353,000. A lower-than-expected figure could potentially push the EUR/USD pair higher, as the market has been on a steady ascent since mid-February.
Currently, it has surpassed the 55 and 200-day moving averages at 1.0873/33, which are now expected to provide support in the short term. On the upside, the 200-week moving average at 1.1148 posed significant resistance in July last year, and the market is likely to encounter strong resistance at this level.
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Currently, it has surpassed the 55 and 200-day moving averages at 1.0873/33, which are now expected to provide support in the short term. On the upside, the 200-week moving average at 1.1148 posed significant resistance in July last year, and the market is likely to encounter strong resistance at this level.
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
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