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Nov 03 - 02:55 AM

EUR/USD - Consolidates Gains Ahead Of US Payroll Report

By John Noonan  —  Nov 02 - 11:15 PM
  • EUR/USD opened +0.49% @ 1.0622 after USD broadly fell as US yields slid

  • In a quiet Asian session the EUR/USD traded in a 1.0615/28 range

  • Heading into the afternoon it is trading around 1.0625

  • EUR/USD poised to trend higher as 5, 10 & 21-day MAs in a bullish alignment

  • A close above the 55-day MA at 1.0654 would confirm trend is underway

  • Support @ the 21-day MA @ 1.0582 and a break would negate positive set-up

  • US non-farm payrolls later today will likely determine short-term range

  • A benign US payroll report will help boost the EUR/USD

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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