EUR/USD Price Forecast – Euro falls hard during session on Friday

The Euro fell during the trading session on Friday after the jobs number came out rather strong in America. At this point though, it looks as if we are trying to find a little bit of footing and it’s not that uncommon for a nonfarm payroll number announcement to move the market around only to find it where it started to begin with. If we can break above the 1.1650 level, then we may be able to go to the 1.17 level above. Otherwise, look to the 1.15 level underneath as massive support, as it has been more than once.

Longer-term charts look slightly bearish over the last couple of weeks, but not enough to be overly concerned with yet. This is a market that should continue to be very choppy but I do think that given enough time we will probably turn right back around. I would be surprised to see the market break down below the 1.15 level in the short term, but we are starting to see liquidity pick up a bit as traders have come back from holiday. Because of this, it could make for very interesting trading. In the short term, I believe that range bound trading is probably what you’re looking at here until we get some type of resolution to the Brexit, and perhaps massage some fears of emerging-market contagion to European banks.

EUR/USD Video 10.09.18