It’s a little bit of a bore in buying and selling at this time as it’s an prolonged weekend in Europe. So, let’s try to take inventory of the technicals with there being little else to essentially work with. First one’s up is EUR/USD and the each day chart comes into focus.
EUR/USD each day chart
The pair is dipped final week again beneath 1.0800 and has caught with that by way of the Easter break to this point. As issues stand, sellers are dragging value down to check the trendline help (white line) from the October 2023 and February 2024 lows. That ranges is now seen at roughly 1.0788.
Break beneath that and sellers will proceed with the draw back momentum, with eyes on the February low of 1.0695.
In buying and selling this week, each the euro and greenback facet of the equations will come into play. For the previous, we’ll have inflation information to work with. And for the latter, the labour market report is the important thing one to observe.
On the steadiness, the US non-farm payrolls ought to outweigh every thing else. Nevertheless, we’ll have a number of days to work with till then. As such, the technical consideration above can also be one thing to be aware of.
On the flip facet, the primary hurdle for consumers is getting value again above the 1.0800 mark. Then, there may be the 100 and 200-hour shifting averages – now seen at 1.0809 and 1.0831 respectively – to get previous. And that’s simply to wrestle again near-term management of the pair.
Therefore, sellers are nonetheless poised in the meanwhile as we await liquidity situations to select up once more tomorrow.
