Don’t waste your time – keep track of how NFP affects the US dollar!

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 EUR/USD is under pressure

EUR/USD is under pressure

Information is not investment advice

After EUR/USD broke the 1.1180/1.1070 range to the downside, it has been trading within the short-term downtrend. The 50-day MA at 1.1040 which used to be a support, acted as resistance making the euro move even lower. On the H4, moving averages are in a negative position. There’s support in the 1.10/1.0993 area (psychological level, 61.8% Fibo of the October advance). If the price gets below it, the next target will be at 1.0940 (78.6% Fibo). 

Notice that the market awaits the improvement in the US CPI figures later today as well as the testimony of the Fed’s Chair Powell, so there will be volatility. 



XAU/USD: where to next?

XAU/USD has moved this week in line with its short-term uptrend and the overall long-term uptrend reaching $1 865.


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