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8 May 2015
http://www.fxstreet.com/news/forex-news/article.aspx?storyid=ae177de1-7f25-4e4f-94dc-7e67b9ce8bc6
FXStreet (Edinburgh) - The shared currency remains mired in the negative territory at the end of the week, with EUR/USD sidelining around 1.1230.
EUR/USD capped by 1.1300
The pair was unable to break above the key up barrier at 1.1300 following today’s ‘in line’ Payrolls, where the US economy added 223K jobs during the last month, quickly returning to the 1.1200 neighbourhodd where it is trying to consolidate. Spot is closing its fourth consecutive week however, although cautiousness could start to grow bigger as a rates lift-off by the Fed in Q3 seems to still be on the cards.
Looking to next week’s docket in the euro area, the first relevant events will come on Monday, with German GDP and preliminary inflation figures ahead of EMU’s Q1 GDP and the ECB Monetary Policy Meeting Accounts.
EUR/USD levels to consider
As of writing the pair is losing 0.28% at 1.1234 with the next support at 1.1179 (low May 8) followed by 1.1175 (low May 6) and finally 1.1100 (psychological level). On the flip side, a breakout of 1.1272 (high May 8) would aim for 1.1300 (psychological level) and then 1.1393 (high May 7).
EUR/USD capped by 1.1300
The pair was unable to break above the key up barrier at 1.1300 following today’s ‘in line’ Payrolls, where the US economy added 223K jobs during the last month, quickly returning to the 1.1200 neighbourhodd where it is trying to consolidate. Spot is closing its fourth consecutive week however, although cautiousness could start to grow bigger as a rates lift-off by the Fed in Q3 seems to still be on the cards.
Looking to next week’s docket in the euro area, the first relevant events will come on Monday, with German GDP and preliminary inflation figures ahead of EMU’s Q1 GDP and the ECB Monetary Policy Meeting Accounts.
EUR/USD levels to consider
As of writing the pair is losing 0.28% at 1.1234 with the next support at 1.1179 (low May 8) followed by 1.1175 (low May 6) and finally 1.1100 (psychological level). On the flip side, a breakout of 1.1272 (high May 8) would aim for 1.1300 (psychological level) and then 1.1393 (high May 7).