Forex technical analysis: EURUSD moved higher after weakish employment

Discussion in 'Technical Analysis' started by ForexLive, Sep 2, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
    Likes Received:
    Dollar getting hit The weaker than expected employment report (lower NFP and lower than expected earnings, work week), may put the Fed on hold once again. The EURUSD moved higher/dollar lower on the report and that pushed the price above the 100 day MA at 1.12139 and the 200 hour MA at 1.12199. So far looking at the 1 minute chart, the price correction has so far held support above the 100 day MA 10 minutes post the report. If the price can stay above, traders who bought the reaction are ok. If it goes back below they may look to exit angry that the follow through on the break did not materialize.

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