FXStreet — The Couple found just before the 1,12 buyer and so is the sideways movement with the early European trading in the area of the 1,1220 expanded.
EUR/USD: 1,1150 or 1,1268 with NFP?
The Couple can receive his commandments, but it is limited to a very narrow Range, while the USD bulls take a breather, and the motion is consolidated with the yesterday’s good ADP labour market data before the important US NFP will be released.
The markets are expecting a positive Surprise from the US NFP, especially after yesterday, the ADP labour market report was very well down. With the broad-based USD rally on a better-than-expected NFP reading seems to be already priced in. A positive outcome of the NFP could «Sell the fact» scenario in the USD will trigger and the EUR/USD has rise to the possibility 1,1268.
In the meantime, the Couple with the European trade is driven by the General market mood, because of the lack of major data from the Euro zone.
• US NFP: it is a disappointment taken. Once again
EUR/USD technical levels
The FXStreet chief analyst Valeria Bednarik says: «The upcoming direction of is mainly the result of the NFP report, and the focus is rather directed upwards. This week, the Pair reached its High at 1,1256 and the 2017 High is 1,1267. These levels need to be overcome to confirm further gains. Under 1,1160 is to be expected with a downward revision to the 1,1080 to what is on the bullish Trend, no impact. Lnterstützungen: 1,1200, 1,1160, 1,1120 Resistances: 1,1265 1,1300 1,1345.”
** FXStreet News Editorial, FXStreet**