EURUSD targets ahead of jobs reportThe EURUSD is trading at a neutral level head of the US jobs report. That level comes at the converts 100 and 200 h
EURUSD targets ahead of jobs report
The EURUSD is trading at a neutral level head of the US jobs report. That level comes at the converts 100 and 200 hour moving averages at 1.10179. The current price is trading at 1.1015 just below that level. Traders are setting up for the next shove off of a stronger or weaker jobs report.
On a weaker report/weaker dollar, watch 1.1044 is a level to get to and through followed by a swing area between 1.1066 and 1.1075. The high price from this week and last week were up near 1.1095 just short of the 1.11000 natural resistance target.
On the downside move below the 38.2% retracement of the range since the April low at 1.0994 would open the door for a move toward the 50% retracement and old floor (see green numbered circles) or 1.0963. On Tuesday of this week the price fell below those levels but fell short of the next target against the swing area between 1.09321 and 1.09378 (see green numbered circles in the chart above).
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