R.Linda Trading - forecast

EURUSD → How will NFP affect the pair? Down to 1.0600?

FOREX forecast
💡 Ideas For EURUSD 🇪🇺🇺🇸

📈 EURUSD → How will NFP affect the pair? Down to 1.0600?


EURUSD is facing strong support at 1.0600. A rebound and counter-trend correction within the downtrend is forming. Traders are waiting for Friday's NFP
Globally, the currency pair is in a bear market phase. There is a strong struggle for the 1.0700 area, especially ahead of Non Farm Payrolls, which may determine the medium-term outlook. Traders expect the NFP to be lowered to 238K, compared to the previous 303K. On the background of high news volatility, the price may test the liquidity zones above the price before continuing to fall, as the general background for the currency pair is still negative.

Resistance levels: 1.07365, 1.0800, 1.08643

Support levels: 1.0703, 1.0606

Based on the general data there is a probability to see a positive NFP for the dollar, which in general will continue to have a negative impact on the currency pair. But the problem with economic news is still that it is high uncertainty.