8 May 2015
Trading EUR/USD into NFP – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, gives the key upside and downside levels for EUR/USD into the US NFP data release.
Key Quotes
“The EUR/USD pair recovered above the 1.1200 level, coming from a daily low set at 1.1181, as European markets opened with a strong footing following the surprise result of UK elections, that show a wide majority for Conservatives. Nevertheless, the pair shows restricted moves ahead of the release of US Nonfarm Payroll figures, later on in the day.”
“As for the EUR/USD technical picture, the 4 hours chart presents a mild bearish tone, as the price stands below its 20 SMA whilst the technical indicators present a neutral stance.”
“Should the data disappoint, a recovery above 1.1260 should lead to an advance up to the 1.1310/20 price zone, whilst if it manages to extend above this last, the pair can continue advancing up to 1.1370/90.”
“A positive surprise may push the pair lower, with a break below the mentioned daily low favoring a decline down to 1.1120, a strong Fibonacci support.”
Key Quotes
“The EUR/USD pair recovered above the 1.1200 level, coming from a daily low set at 1.1181, as European markets opened with a strong footing following the surprise result of UK elections, that show a wide majority for Conservatives. Nevertheless, the pair shows restricted moves ahead of the release of US Nonfarm Payroll figures, later on in the day.”
“As for the EUR/USD technical picture, the 4 hours chart presents a mild bearish tone, as the price stands below its 20 SMA whilst the technical indicators present a neutral stance.”
“Should the data disappoint, a recovery above 1.1260 should lead to an advance up to the 1.1310/20 price zone, whilst if it manages to extend above this last, the pair can continue advancing up to 1.1370/90.”
“A positive surprise may push the pair lower, with a break below the mentioned daily low favoring a decline down to 1.1120, a strong Fibonacci support.”