© O Financista. The trend is still overall bearish on EUR/USD
Investing.com – The situation remains fragile on the EUR/USD pair this Friday morning, after a phase of correction yesterday, and a slight rebound in the course of the night.
We remind that after the beginning of the day placed under the sign of the consolidation, the vendors were again made their voices heard on the EUR/USD, pushing the pair on a low daily 1,1205 in the afternoon, while she was putting the pressure on the resistance zone of 1,1250 in the morning.
Several factors were indeed in league against the Euro-Dollar. We note, in particular, the rebound in the Dollar, helped by registrations weekly jobless claims at their lowest since 1969.
The sharp fall in the GBP/USD, who still suffers and always concerns and the uncertainties surrounding the Brexit, was also weighed to the downside on EUR/USD correlation.
The reasons for decline were also stark in Europe, with orders in German industry in steep decline, and growth forecasts lowered for Italy and Germany.
Today, it is the ratio NFP, which will be the focal point of the attention of traders. The consensus prevot, a rise to 175k job creation, after the “accident” of the previous month, where the US economy had created only 20k jobs.
In regards to trade discussions China-US, no top Trump-Xi was announced yesterday, contrary to rumors, but of encouraging statements were able to be identified, which might participate in creating a positive climate for the US Dollar.
From a graphical point of view, a break below the psychological threshold of 1.12 seems to be necessary to maintain the bearish momentum in view of the low of this week to 1,1185, and the hollow annual 2019 1.1175.
The increase, the moving average 200 hours currently 1.1238 appears as a direct barrier, before another resistance 1,1250, and then on the psychological threshold of 1.13.