EUR/USD: general analysis
Current trend
Last week, the EUR/USD pair lost more than 150 points and, after a slight correction at the level of 1.0840, is trading at the level of 1.0870.
Non-farm Payrolls statistics is due today in the US. Experts expect a strong growth in the number of new jobs, thus, the EUR/USD pair will be pressured further down.
Support and resistance
At present, the pair is trading between the support level of 1.0835 (0.0% Fibonacci correction and the lower MA of Bollinger Bands) and the resistance level of 1.0900.
MACD histogram is in the negative zone. Bollinger Bands is directed down and indicates that the volatility in the EUR/USD pair is low.
Trading tips
Short positions can be opened from the current levels with the target at 1.0835 and trailing-stop 15 points away.
Last week, the EUR/USD pair lost more than 150 points and, after a slight correction at the level of 1.0840, is trading at the level of 1.0870.
Non-farm Payrolls statistics is due today in the US. Experts expect a strong growth in the number of new jobs, thus, the EUR/USD pair will be pressured further down.
Support and resistance
At present, the pair is trading between the support level of 1.0835 (0.0% Fibonacci correction and the lower MA of Bollinger Bands) and the resistance level of 1.0900.
MACD histogram is in the negative zone. Bollinger Bands is directed down and indicates that the volatility in the EUR/USD pair is low.
Trading tips
Short positions can be opened from the current levels with the target at 1.0835 and trailing-stop 15 points away.
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