EURUSD → Numerous retests of 1.1075. Ahead of NFP & UR

5 במאי 2023

EURUSD continues to try to break resistance. Upcoming NFP news could have a positive effect on the currency pair. What should we expect from the price?

The price is in an uptrend having formed a strong support base in the 1.1000 - 1.09500 range.
The moving averages are acting as support.
Price has made numerous retests to the resistance at 1.10752 and the next attempt and the leverage of the news in tandem might make the breakout.
NFP: analysts expect worse numbers than the previous period
UR: similarly, analysts expect worse data than last period.



Strong support: 1.10000 (false-break-down strategy), lower boundary of the uptrend channel.
Strong resistance: 1. 10328, 1.10752
I expect that the forthcoming updates of the fundamental background may have a favorable effect on the currency pair EURUSD and the price may finally break the resistance and continue its growth.

Regards R. Linda!