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EUR/USD has reached December high at 1.1240 and is actively testing levels above it. The picture at the chart changes very fast. Traders don’t really like the USD at the moment, so the pair will easily get to 1.1295 (the line connecting October and December highs). There it will likely meet some resistance ahead of the release of the Nonfarm Payrolls (NFP) in the United States.
If the US publishes weaker data, the advance above 1.1295 will bring the pair to 1.1340. The next resistance will be at 1.1400. Given the bearish divergence on the H4, you may look for reversal patterns around 1.1290 targeting a return down to 1.1240 and 1.1200 – this will be an option if NFP exceeds expectations. Selling the euro will also be an idea if EUR/USD slides below 1.1175. The target in this case will be at 1.1100.
BUY 1.1305; TP 1.1340; SL 1.1290
SELL 1.1170; TP 1.1100; SL 1.1190
On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835).
How does the GBP/USD look like?
USD/JPY has declined from 111.70 and went into consolidation around 107.50.
AUD looks stronger, RBA keeps the rate steady. How positive is the picture?
On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835).
The USD/CAD price has been falling down since March 19. What are the reasons?
