FXStreet (Guatemala) - EUR/USD is trading at 1.3130, down -0.01% on the day, having posted a daily high at 1.3147 and low at 1.3119.

We had a move that took the pair down through the 1.3150 barrier and with that it seems that next down-leg in EUR has started. There are expected barriers at 1.3125 and 1.3105. The Market Strategy Team at UOB Group said,
“Only an unlikely break back above 1.3175 would indicate that a temporary low is in place”. The event risks this week are in the main coming in the form of US jobs numbers. Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman said that the US employment data will also most likely confirm what we already know, and if it does not, it will likely be shrugged off as a fluke. “There is no reason not to look for the 200+ monthly increases in non-farm payrolls to extend the streak to seven consecutive months."

EUR/USD hourly levels

With spot trading at 1.3131, we can see next resistance ahead at 1.3139 (Hourly 20 EMA) and 1.3147 (Daily High). Support below can be found at 1.3120 (Annual Low), 1.3110 (Daily Classic S1) and 1.3102 (Weekly
Classic S1).

Related Articles
  1. Forex Education

    Four Currencies Under the Spotlight in 2016

    With currencies having become the “tail that wags the dog,” in terms of their impact on the global economy, these four currencies will be under the spotlight in 2016.
  2. Forex Fundamentals

    These Currencies Are The Biggest Losers Of The Stock Downturn

    Here’s a list of the hardest-hit currencies amid the global stock market mayhem.
  3. Forex Strategies

    Will the Euro Continue to Rally? (EUO)

    The euro is rallying. Should investors chase this performance or is the real opportunity on the other side of the trade?
  4. Investing News

    China’s Forex Reserves Dropped Significantly

    China’s forex​ reserves dropped by a record $93.9 billion at the end of August to $3.56 trillion because the Central Bank has been selling dollars to provide a cushion to the falling yuan​
  5. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  6. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  7. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  8. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  9. Investing

    Financial News Comparison: Bloomberg Vs. Reuters (BAC, GOOG)

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  10. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
COMPANIES IN THIS ARTICLE
Trading Center