EUR/USD firmer, moves closer to 1.1000

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    EUR/USD keeps its march north intact on Friday, now trading at shouting distance from the psychological handle at 1.10 the figure.

    EUR/USD eyes 1.10 ahead of NFP

    The pair has resumed yesterday’s upside momentum, this time propped up by an abrupt leap to session highs in EUR/GBP in response to an increased offered tone around the sterling.

    Next on tap for the pair will be the release of US Non-farm Payrolls, expected at 190K during February, with the jobless rate staying put at 4.9%.

    EUR/USD levels to watch

    The pair is now advancing 0.17% at 1.0981 and a breakout of 1.1047 (200-day sma) would open the door to 1.1079 (20-day sma) and then 1.1123 (38.2% Fibo of December up-move). On the other hand, the next support lines up at 1.0823 (low Mar.2) followed by 1.0777 (low Jan.21) and finally 1.0709 (2016 low Jan.5).
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