EURUSD has previously broken the 50% retracement at 1.1065 on Wednesday and it heading up for its next target of 1.1125. It added almost 45 pips to an opening price of 1.1057. The focus is now moved towards the U.S economic figures especially, the NFP Employment Change and unemployment rate publishing on Friday.

Fundamentals:

EUR:

• Spanish Unemployment Change
• ECB Economic Bulletin
• Italian Monthly Unemployment Rate

US:
• Unemployment Claims
• Prelim Nonfarm Productivity q/q
• Prelim Unit Labor Costs q/q
• Final Services PMI
• ISM Non-Manufacturing PMI
• Factory Orders m/m

Technicals:

EURUSD consolidating beneath a strong resistance level of 1.1125 plus it is expected to stay below this level. The strong resistance prevails around 1.1125, whilst the support prevails at 1.1010 and 1.0975.

Support & Resistance Levels

R3: 1.1162
R2: 1.1134
R1: 1.1117
Pivot Point: 1.1089
S1: 1.1061
S2: 1.1044
S3: 1.1016

Recommendation
Sell Below: 1.1125
Take Profit:
• 1st @ 1.1056
Stop Loss @ 1.1145

EURUSD -Chart

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