Results of the last trading day:
On Friday, March 9, trading in the euro / dollar ended slightly down. The key event of the day for the currency market was a report on the US labor market (Non-Farm Payrolls). Prior to its release price revolves around the level of 1.2305.
The US non-farm payrolls in February was created 313 thousand new jobs vs. 205 thousand figure for December was revised upward from 160 to 175 thousand in January -.... From 200 to 239 thousand General revision was 54 thousand . Unemployment remained unchanged at 4.1% (forecast was 4.1%). Wages increased by 0.1% short of the predicted value of 0.2%.
The report showed that the growth rate of the economy is high enough. The euro fell to 1.2273 first, then recovered to 1.2334. By the close of trade, the greenback lost all points earned, as traders have paid close attention to weak wage growth, which is an important indicator for the Fed when deciding on interest rates.
Additional support for the euro has given the news that North Korean leader Kim Jong-un is ready to meet with the American President Donald Trump. After it increased the demand for risky assets.
Planned statistics (GMT +3):
At 21:00 in the US will report on performance for February.
The meeting of EU finance ministers.
Fig. 1 euro / dollar, hour period. Data source: TradingView
The price recovered to the 45th degree of minimum 1.2273. As a result, formed intraday reversal pattern.
Since today is Monday and the economic calendar is empty, I believe that after a slight decrease in pair will continue to grow until the 67th degree 1.2356. Note that the main euro crosses but EUR / JPY and EUR / AUD traded in positive territory and maintain evrobykov. This means that the general weakening of the dollar could quickly reach 1.2356 euros on the opening of London. From him forward downward correction to the level of 1.2318. The day will be similar to break-even.
Trader analyst Vladislav Antonov Alpari