​Chart Of The Day: EURUSD extends recovery while inching closer to the US NFP

Fri, 04 Oct 2019 13:43

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The EURUSD pair is on the recovery mode ahead of the key US employment report. Also increasing the importance of the day is the Federal Reserve Chairman Jerome Powell's speech. Should the US Dollar (USD) keeps its weakness, pair buyers will look for a sustained break above 21-day EMA level of 1.0990 to confront more than three-month-long falling trend-line at 1.1035 now. In case of bull's further dominance, 50-day EMA level of 1.1055 and September month top nearing 1.1110 will flash on their radars.

Meanwhile, a downside break below 1.0925 could recall 1.0880 whereas late-January 2017 highs nearing 1.0830 and 1.0750 might lure bear afterward. It should also be noted that oversold conditions of RSI can keep offering intermediate pullback inside a broad downtrend.

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