Current trend

The EUR/USD pair lost more than 150 points in a month.

Market participants are turning their attention to US Non-farm Payrolls, due at 3:30 p.m. (GMT +3) on Friday. In the week ahead, the USA, eurozone as well as the Asia-Pacific region are releasing important macroeconomic statistics. High volatility is expected.

Today, a block of the following US releases is worth noting: Core personal Consumption Expenditure for June, ISM Prices Paid and Manufacturing PMI for June.

If the actual statistics exceed the forecast, the US dollar may strengthen despite the weak Employment cost index, released last Friday.

Support and resistance

The pair prospects remain negative. A short-term speculative growth to 1.1050 (EMA50 on the daily chart), 1.1100 (last week high) is possible against weak US statistics. The fundamental factor will affect the pair in the medium term.

OsMA on the 4-hour, daily and weekly charts is moving to sales. Stochastic is the sell zone.

Support levels: 1.0935, 1.0900, 1.0815, 1.0720.

Resistance levels: 1.1050, 1.1100, 1.1180, 1.1235, 1.1290.

Trading tips

Open short positions from the current price or place Sell Limit from 1.1050, 1.1100, 1.1150 with short targets at 1.0900, 1.0830, 1.0800 and long targets at 1.0730, 1.0570, 1.0500. Set stop-loss at 1.1210.

Open alternative long positions with targets at 1.1490, 1.1600, 1.1785 only when the level of 1.1290 (23.6% Fibonacci, EMA144 on the daily chart) is broken through.




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