Thursday, October 4, 2018

EUR/USD - 05 October 2018


Fundamental Highlights

The Euro remains unchanged as investors witnessed no significant developments between the EU and Italy regarding Italy’s budget plan. Moreover, U.S Dollar traders await today’s NFP report in order for them to make a decision regarding the greenback’s future. Keep in mind that an NFP report that shows better than expected employment figures and rising wage growth will increase expectations of the Fed maintaining their hawkish stance and thus impact the U.S Dollar in a positive manner.

Technical Analysis

The Euro is expected to range between the 1.14922 support level and the 1.15458 resistance level until the release of the NFP report. Depending on the outcome of the NFP report, the pair will either break above the 1.15458 resistance level exposing the 1.16255 level or break below the 1.14922 support level exposing 1.14326 level.

Support: 1.14922 1.14326
Resistance: 1.15458 1.16255

Chart (H4)