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Short

EUR/USD: general analysis

FX:EURUSD   Euro Fx/U.S. Dollar
50 0 1
Current trend
Last week, the EUR/USD             pair lost more than 150 points and, after a slight correction at the level of 1.0840, is trading at the level of 1.0870.
Non-farm Payrolls statistics is due today in the US. Experts expect a strong growth in the number of new jobs, thus, the EUR/USD             pair will be pressured further down.
Support and resistance
At present, the pair is trading between the support level of 1.0835 (0.0% Fibonacci correction and the lower MA of Bollinger Bands ) and the resistance level of 1.0900.
MACD histogram is in the negative zone. Bollinger Bands is directed down and indicates that the volatility in the EUR/USD             pair is low.
Trading tips
Short positions can be opened from the current levels with the target at 1.0835 and trailing-stop 15 points away.
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