EURUSD (SENSTIVE MOVEMENT)
The dollar slightly declined on Monday, influenced by a disappointing U.S. jobs report last Friday that fueled speculation about multiple Federal Reserve rate cuts this year. Meanwhile, the yen weakened following last week's presumed market intervention.
The EURUSD pair gained ground on Friday and commenced the new week on a steady, albeit slow, trajectory after recent U.S. data jolted the forex markets. The Labor Department's latest nonfarm payrolls report revealed that U.S. employers added 175,000 jobs in April, significantly below the anticipated 238,000, thereby undermining confidence in the U.S. dollar.
EURUSD New Outlook
The price will trade in the bullish zone due to the high pressure, but also it is possible to do a retest till 1.0740 or 1.0700, and the bullish trend will continue toward 1.0807 and 1.08800
Pivot Price: 1.0760
Resistance Levels: 1.0808, 1.0880, 1.0945
Support Levels: 1.0707, 1.0668, 1.0610
The price is expected to oscillate between the support at 1.0707 and the resistance at 1.0880.
The EURUSD pair gained ground on Friday and commenced the new week on a steady, albeit slow, trajectory after recent U.S. data jolted the forex markets. The Labor Department's latest nonfarm payrolls report revealed that U.S. employers added 175,000 jobs in April, significantly below the anticipated 238,000, thereby undermining confidence in the U.S. dollar.
EURUSD New Outlook
The price will trade in the bullish zone due to the high pressure, but also it is possible to do a retest till 1.0740 or 1.0700, and the bullish trend will continue toward 1.0807 and 1.08800
Pivot Price: 1.0760
Resistance Levels: 1.0808, 1.0880, 1.0945
Support Levels: 1.0707, 1.0668, 1.0610
The price is expected to oscillate between the support at 1.0707 and the resistance at 1.0880.
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