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On Thursday, the EUR/USD pair rebounded to the highs of the recent consolidation period, surpassing the 1.0700 handle. This recovery comes as markets readjust to risk sentiment ahead of the release of the US Nonfarm Payrolls (NFP) report on Friday.
Price action has taken place around the 34, 89 EMA, as the market waits for clear momentum to influence the direction of the trend. The 4H candles show a pattern of higher lows, strengthening the recovery momentum as the pair attempts to extend the upside movement from the swing low of 1.0600.
EUR/USD is trading in an uptrend above the 34.89 EMA, and is expected to continue rising if it can overcome the 1,074 resistance.
On Thursday, the EUR/USD pair rebounded to the highs of the recent consolidation period, surpassing the 1.0700 handle. This recovery comes as markets readjust to risk sentiment ahead of the release of the US Nonfarm Payrolls (NFP) report on Friday.
Price action has taken place around the 34, 89 EMA, as the market waits for clear momentum to influence the direction of the trend. The 4H candles show a pattern of higher lows, strengthening the recovery momentum as the pair attempts to extend the upside movement from the swing low of 1.0600.
EUR/USD is trading in an uptrend above the 34.89 EMA, and is expected to continue rising if it can overcome the 1,074 resistance.
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The selling bias in the Greenback gathers extra pace on Friday after the US economy created fewer jobs than initially estimated in April, lifting EUR/USD to the area of fresh peaks above 1.0800.
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