© O Financista. EUR/USD is hesitating at the beginning of a new day hollow
Investing.com – After the renewed volatility in a news charged last week, the trend of the EUR/USD pair seems to be now uncertain.
Recall that last Friday, the report to the NFP on the creation of jobs in the US and the ISM manufacturing index above expectations, had supported the Dollar and prompted a correction on EUR/USD.
However, some technical indexes allow to estimate that there still exists a probability non-negligible that the increase will resume.
In fact, one can see an upward trend line visible since the end of January. In addition, while the pair EUR/USD has now broken below the moving average 100 hours, the moving average 200 hours to 1.1415 could also be used to support, shortly before the psychological threshold of 1.14.
In 1.14, the possibilities of return of the increase will be substantially reduced, and will continue to be monitored in this case the next support potential towards 1.1380, 1.1350 and 1.13.
In the event of a rebound from the current level, the zone of 1.1470-75 will be the first resistance, before the psychological threshold of 1.15, and then to the summit of the last week at 1.1514.
Beyond that, a bullish trend would be confirmed, and the next potential objective will be to 1.1550, 1.1570 and 1.16.
Finally, it should be noted that outside of the orders to US industry, at 16h, no statistical significant will not be expected in the economic calendar of the day, which pleads for a day of hesitation.
The economic calendar is will up from tomorrow, with the PMI services-european and the ISM services US, as well as with the speech of the US president Donald Trump on the State of the Union.
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