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May 03 - 07:55 AM

EUR/USD - Has Event Risk And A Technical Hurdle Friday

By Peter Stoneham  —  May 03 - 06:15 AM
  • With no tier-one EZ data the focus is U.S. jobs and ISM services

  • Dollar softer vs its basket: 0.4% drop in USD/JPY to blame

  • EUR/USD steady to firmer and another recovery high, 1.0747-EBS

  • EUR just nudging above the key 50% 1.0744 Fibo off of 1.0885-1.0602

  • Apr. 26 1.0753 high the initial resistance then 1.0772 61.8% Fibo

  • A May 7 cloud twist above market at 1.0837-43 could have some influence

  • Sizeable shift down in EUR/JPY dragging on EUR/USD gains

  • EUR/USD support at 1.0724 session low

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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