EURUSD rose 80 pips of the opening price of 1.0420 to put a high of 1.0505 in the New York trading sessions. As recommended beforehand in the previous report, the Euro is expected to remain very volatile on the hybrid economic events due on Wednesday from the Eurozone. The Euro rallied against its peer’s currencies as the Inflation value expanded up in the Eurozone. Furthermore, now on Thursday, the investors are focussing on the significant event comprising advance NFP as well as unemployment claims from the U.S.

Technical Analysis:
EURUSD rose to trade at 1.0527 scoring more than 80 pips on Wednesday on solid than foreseen economic values. The pair continued to trade above its solid support at 1.0370 and pulled back higher from this level. At present, it’s testing 61.8% retracement at 1.0539 and it is very apparent to hold this level. The break above this level will open more room for buying in the pair until 1.0652. Furthermore, the pair has a resistance nearby 1.0590 and 1.0665, whereas the intra-day support predominates at 1.0477 and 1.0435.

EUR

PPI m/m
French 10-y Bond Auction
Spanish 10-y Bond Auction

USD
ADP Non-Farm Employment Change
Unemployment Claims
Final Services PMI
ISM Non-Manufacturing PMI

Daily Trading Range:
1.0600 – 1.03200

Support & Resistance Levels
R3: 1.0581
R2: 1.0525
R1: 1.049
Pivot Point:
1.0434
S1: 1.0378
S2: 1.0343
S3: 1.0287

Recommendation
Sell Below: 1.0550
Take Profit:
1st @ 1.0490
Stop Loss @ 1.0580

EURUSD- Chart

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