© O Financista. EUR/USD, Euro-Dollar
The pressure remains bearish on the EUR/USD pair this Friday morning, after a weekly low at 1.1937 Wednesday evening, and a day of hesitation Thursday.
After having spent the night to 1.1990 throughout the night, in a volatility close to zero, the pair EUR/USD is weakening at the beginning of the european session, with for now a low daily on 1.1963 at the time this article is written.
Nothing in the news this morning does not justify this weakness, however, it has been observed since yesterday that the threshold of 1.20 was well defended by the sellers, who seem to be more the hand, the face of a bull which finally have little reason to support the Euro.
From a graphical point of view, it is interesting to note the close relationship that exists between the classes in the hourly data and the moving average 100 hours, which has blocked attempts to rebound on the 26th and the 30th of April, and last night.
In the short term, the moving average 100 hours, and the threshold is 1.20 located a few pips above therefore constitute an area of critical resistance. Above this threshold, the next hurdle large graphic will be on the old media of 1.2055.
Has the downside, we will monitor the lows of yesterday (1.1949), and then those of the day before yesterday (1.1937), as well as the lowest point of the January 9, at 1.1915, and the psychological level of 1.19.
Finally, we must not forget that the evolution of the EUR/USD this Friday will depend largely on the report to the NFP on job creation, US in the month of April, expected at 14: 30. The consensus anticipates 189k jobs, after 103k the previous month, for an unemployment rate of 4%, compared with 4.1% previously, and hourly wages average monthly expected increase of +0.2% after +0.3%.
However, if one takes into account other economic data measuring the job market in US in the month of April, we see downside risks weighing on the ratio NFP.
The caution is, therefore, a surprise in the figures that may significantly influence the EUR/USD pair, and all of the currency pairs of the Forex linked to the Dollar.