EURUSD July 4 analysis

4 lip

EUR/USD surged and rose above 1.0810 to touch its highest since June 12 on Wednesday. The pair remained in consolidation near 1.0800 early Thursday.

Disappointing macroeconomic data from the United States triggered a sell-off in the US Dollar (USD) during US trading hours on Wednesday and gave the EUR/USD pair a boost.

EUR/USD rose above 1.0800 on Wednesday, where the 100-day and 50-day Simple Moving Averages (SMA) converged, but failed to make a daily close above this level. Once 1.0800 is confirmed as support, technical buyers may remain interested. In this scenario, 1.0840 (23.6% Fibonacci retracement level of the latest uptrend) can be considered as temporary resistance before 1.0900 (psychological level, static level).
In case 1.0800 remains resistance, 1.0760 (50% Fibonacci retracement) and 1.0730-1.0740 (61.8% Fibonacci retracement, 20-day SMA) can be considered Support level.
Trading signals

SELL EURUSD zone 1.08450-1.08650
↠  Stoploss 1.08800

→ Take Profit 1 1.08000
→ Take Profit 2 1.07400

BUY EURUSD zone 1.07600-1.07400
↠  Stoploss 1.07300

→ Take Profit 1 1.08000
→ Take Profit 2 1.08600

5 lip

Zlecenie aktywne

5 lip

Uwaga

EUR/USD holds higher ground above 1.0800 ahead of US payrolls
EUR/USD is holding higher ground above 1.0800 in the European session on Friday. The pair extends its week-long winning streak amid a broad US Dollar weakness and an upbeat market mood. The further upside hinges on the US Nonfarm Payrolls data release.