Can EURUSD test 1.05 again

Related stories

Economic Calendar from 29 Jan 2024 to 2 Feb 2024

Wednesday, 31 January 202419:00 GMT -FED Rate Decision ,...

ECONOMIC CALENDER from 8 January 2024 to 12 January 2024

11 January 202413: 30 GMT : CPI (MoM) (Dec)...


The GBP/USD currency pair has been trading in a...

NFP : Nonfarm Payroll Data Latest

NFP (Dec) Actual: 216K Expectation : 170 K Previous:...

EUR (EURUSD) and NFP data

EURUSD has been in uptrend since October 2023. After...

This Content Is Only For Subscribers

Please enter your email ID for FREE subscription.

The EURUSD is the most traded currency pair globally. It is currently experiencing significant volatility. From a technical perspective , the pair has been oscillating within a well-defined range, with key support and resistance levels clearly visible on the daily chart.

Euro/Usd movement is influenced by a confluence of factors. On the fundamental side, the divergence in monetary policies between the European Central Bank (ECB) and the Federal Reserve is a key driver. The ECB’s dovish stance contrasts with the Fed’s hawkish tilt, putting downward pressure on the Euro.

Recent data shows a robust US economy, strengthening the Dollar. The Initial Jobless Data came at 220 K which was below expectation. The Non-farm Payroll data was at 199K which was above expectation. However,  escalating  tensions in  Eastern  Europe  could  trigger  risk-off sentiment,  benefitting  the  safe-haven  Dollar.

Looking into EURUSD chart, 1.0650 is strong support area. It need to break below that to make further move towards 1.05. The resistance level is at 1.0950-1.1.050. However till the pair is below its resistance area it can try to test the low.

In conclusion, trading EURUSD requires a careful analysis of both technical and fundamental economic indicators. Traders should stay abreast of economic news and geopolitical developments that could impact the pair.


- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories


Please enter your comment!
Please enter your name here