The EUR/USD is currently approaching a strong resistance level of 1.8136. Previously when this market hit that resistance, there was a fakeout that lasted for a week, slumped below the resistance line and is now, creeping back up to this level. I believe this may have a breakout due to the fact that the long term 200MA is sloping upward and is meeting the lower MAs soon. This crossover can indicate a long term buy opportunity.
As well as this,within the Fibonacci retracement, the current price is sitting right on top of the 78.6 and is looking to aim higher to reach the 100 level in the next coming week.
On the fundamental side, as of today, USA had a Job Opening results, this is looking into how the businesses and employers are performing with their; employment, recruitment and separations. Analysts made an expectation of 6.030 million new jobs open, although the US only managed to ensure 5.996 million jobs, not being able to meet the analysts expectation is not good for the USD currency. Which can compliment the current EUR/USD uptrend
As well as this,within the Fibonacci retracement, the current price is sitting right on top of the 78.6 and is looking to aim higher to reach the 100 level in the next coming week.
On the fundamental side, as of today, USA had a Job Opening results, this is looking into how the businesses and employers are performing with their; employment, recruitment and separations. Analysts made an expectation of 6.030 million new jobs open, although the US only managed to ensure 5.996 million jobs, not being able to meet the analysts expectation is not good for the USD currency. Which can compliment the current EUR/USD uptrend