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Forex

Euro Gains Slightly Above 1.1500

OctaFx | Oct. 5, 2018
Euro Gains Slightly Above 1.1500

Euro gained slightly in the Asian session. It reached an intraday high of 1.1540 as traders waited for the US employment data. What next should traders expect from the EURUSD pair?

5 October, OctaFX – The euro is trading close to the 1.1500 level against the US dollar, as price consolidates ahead of the US Nonfarm payrolls job report for the month of September.

The EURUSD pair had started to correct above the 1.1500 level, although the move higher was quickly sold as buyers lost momentum around the 1.1540 region. Sellers need to break the 1.1463 support level while buyers need to move price above the 1.1553 resistance level.

  • The EURUSD pair remains bearish while trading below the 1.1500 level, key technical support is now found at the 1.1463 and 1.1405 levels.
  • If the EURUSD buyers move price above the 1.1553 level, key resistance is then found at the 1.1600 and 1.1650 levels.

Disclaimer

This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.


Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.