EUR/USD Daily Technical Analysis May

Today the main event of the day is publication of data from the US Department of Labor Non-farm Payrolls. As you can see on the graph the currency pair breaks all records last time and the reaches the resistance higher and higher. Thus, on the data from ADP on Wednesday pair has updated the top, reaching resistance level of 1.1385.

Today the main event of the day is publication of data from the US Department of Labor Non-farm Payrolls. As you can see on the graph the currency pair breaks all records last time and the reaches the resistance higher and higher. Thus, on the data from ADP on Wednesday pair has updated the top, reaching resistance level of 1.1385. According to preliminary forecasts the NFP is expected at 220 thousand, which is much higher compared to the previous publication. However, the last disappointing data the NFP government of USA associates with "off-season". If the Department of Labor will publish data above 200 thousand, and the unemployment rate does not increase, then in this case the US dollar will strengthen against the euro.
We recommend you to sell currency pair below the level of resistance 1.1300, fix profits on the next support levels: 1.1210, 1.1180, 1.1100.
If the US data will be the same as last month, it is possible "Buys" with the goals of profit at 1.1350, 1.1385.
Hurry up to earn on this forecast!

Tags: United States, Forex, Eur Usd, Forex Analysis, Technical Analysis

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