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

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Follow us on Facebook

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Email tooltip

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

FBS Mobile Personal Area

FREE - In Google Play

View
ING forecasts EUR/USD at 1.16 this week

ING forecasts EUR/USD at 1.16 this week

Information is not investment advice

What happened?

The last week has ended with greater-than-expected NFP, but weaker average hourly earnings. 916,000 people were employed during March, while the forecast was only 647,000. Average hourly earnings dropped by 0.1%, whereas growth of 0.1% was anticipated. As a result, since NFP comes better, but earnings – worse, the USD will spike at first, but it will fall with the second wave.

Europe’s poor vaccination rollout and prolonged lockdowns keep pressing down the EUR. Unlike the EU, the USA is in a much better position. Biden claimed a goal of 200 million vaccinations in his first 100 days and unveiled the 2$ trillion infrastructure plan. As a result, Treasury yields surged. And as we know, rising yields would push the US dollar up.

Forecast

According to ING, EUR/USD is likely to dip further this week. So far, support at 1.1700 has been held, but the pair may break down to the low of 1.16 this week.

Technical analysis

EUR/USD is moving in a descending channel. On the weekly chart, the way down is constrained by the 50-week moving average of 1.1735. If it manages to break it and then crosses 1.1700, it should fall to November’s low at 1.1630. On the flip side, if it crosses the high of April 2 at 1.1790, it may jump to the 200-day moving average of 1.1870.

EURUSDDaily.png

EURUSDWeekly.png

LOG IN

Similar

Popular

Choose your payment system

Learn more

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later