In the forex trading on Friday, the euro quotes paired with American fell to lows amid strong employment report in the United States, but the rally was short-lived greenbacks, and soon European currency continued to strengthen.As shown by the data was created 287K jobs instead of the expected 175K.Indicators rose to this level for the first time since October of this year.Nevertheless, weaker appeared report on the unemployment rate in the United States showed an increase to 4.9% after 4.7%.
The pair continues to be under pressure. By strong labor market report briefly supported the dollar, which could grow by 120 points. Resistance is at 1.1130, support - at 1.1050.
Technical indicators point to a downward movement. MACD is in the negative area, the histogram has not changed since the end of last week. MACD shows the strong position of sellers. RSI is near the oversold area. If the light is come into oversold territory, we will get a sell signal.
On the 4-hour chart, the moving averages (50, 100 and 200) are directed downwards. On the news the price has broken through the 50-EMA and tested 100-EMA, then bounced off of it down.
Forecast EUR USD EUR / USD today
The pressure is maintained for a couple. We expect a continuation of the decline to the 1.1000 round support.
Based on materials from Fort Financial Services