EUR/USD Faces Strong Resistance Around 1.14375, Market Awaits NFP Data for Further Direction

EUR/USD Faces Strong Resistance Around 1.14375, Market Awaits NFP Data for Further Direction

1 April 2016, 09:49
Roberto Jacobs
0
12

EUR/USD Faces Strong Resistance Around 1.14375, Market Awaits NFP Data for Further Direction

  • Candlestick Pattern- Shooting Star 
  • Major resistance -1.4375 
  • The pair has made a high of 1.4117 and slightly retreated from that level. It is currently trading around 1.13802. 
  • Short term trend is slightly weak as long as resistance 1.14375 holds. 
  • Market awaits US Non Farm Payroll data which is to be released for further direction. 
  • US NFP is expected to show 208k growth in March compared to 242k in Feb and unemployment rate to be unchanged at 4.9%. 
  • Any break above 1.14375 will take the pair to next level around 1.1500/1.15486. 
  • On the lower side major support is around 1.1345 and break below targets 1.1280/1.1200/1.1155. 
  • Short term trend reversal only below 1.1050.

It is good to sell on rallies around 1.1385 with SL around 1.14375 for the TP of 1.1280/1.1200

The material has been provided by InstaForex Company - www.instaforex.com

Share it with friends: