EUR/USD could have a difficult time pushing higher in the near-term.

EUR/USD has managed to rebound following Wednesday’s sharp decline. As.Euro closes in on resistance area that could limit recovery.“The US private sector employment report published by the ADP will be watched closely by market participants. Considering how the upbeat data helped the dollar find demand on Wednesday, a similar market reaction could be witnessed if the data suggest that the US economy remains in a good spot with tight labor market conditions.”

“1.07 (psychological level) aligns as interim resistance ahead of 1.0720 (20-period SMA, 50-period SMA). In case the pair rises above the latter and starts using it as support, the next recovery target could be seen at 1.0740 (static level). Until that happens, the bullish pressure is unlikely to gather momentum.”

“1.0680 (Fibonacci 23.6% retracement of the latest uptrend) could be seen as first support. With a four-hour close below that level, sellers could show interest and drag the pair toward 1.0660 (static level) and the 1.0630/1.0620 area (Fibonacci 38.2% retracement, 200-period SMA).”

EUR/USD clings to gains after EU data, stays near 1.0700

EUR/USD manages to hold in positive territory slightly below 1.0700 in the European session on Thursday. The data from the euro area showed that producer inflation rose at a softer pace than expected in April. The US economic docket will feature ADP employment report.


GBP/USD advances toward 1.2550 on renewed dollar weakness

GBP/USD continues to edge higher toward 1.2550 as the dollar stays on the back foot amid the improving market mood. The ADP Employment Change, Unit Labor Costs and Factory Orders data from the US will be looked upon for fresh impetus.


Gold extends the rebound above $1,850, US ADP eyed

Gold Price is building on the previous rebound from ten-day lows of $1,829, as bulls remain in total control in the European session. The European markets find some comfort from the retreat in oil prices, amid hopes for a concerted effort to increase supply.

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