The Euro has been on the rise against the Dollar since the beginning of April. US NFP numbers and unemployment rate for April might explain to us why such rise took place. Anyways, Eur Usd has hit a key resistance of around 1.216, where we might observe a price correction at the start of the week before an upward continuation towards the 1.225 and 1.233 zones.
Commentaire:
Following the US inflation data released today, short term interest rates may rise which will lead to a sell off in US equities and a rising demand for the dollar. Eur Usd might actual break off from its upward trend. This will lead to higher risk going long EURUSD.