Euro Has Quiet Session After Jobs Figure Comes Out

Euro vs US Dollar Technical Analysis

The Euro has drifted a little bit lower during the trading session for the Friday candlestick. That being said, the market is likely to see a lot of probing back and forth to determine where the next move is. It is worth noting that we pulled back rather significantly from the 50 Day EMA. The 1.10 level underneath is an area that I think could be targeted, and it could offer support.

If we were to break down below the 1.10 level, then the market could go looking to the 1.0850 level. On the other hand, if we turn around and rally, it is not until we break above the 1.12 level that I would get bullish about this market, as it would be a breach of proven support and resistance. At that point, the market would more than likely go looking towards the 200 Day EMA, and then maybe even the 1.15 handle after that.

I do believe that the markets will continue to be very noisy because quite frankly the bond markets have the same type of attitude. Interest rate differential still favors the United States, so therefore I think we do have a rather negative tone to this market. The European Union continues to suffer at the hands of inflation and a slowing economy, and therefore it will continue to have a central bank that is standing on the sidelines and not able to do much. The Federal Reserve is still on course to continue tightening its monetary policy, so it all works out to tell me the same thing, that this pair more likely than not will continue to fall.

EUR/USD Price Forecast Video 04.04.22

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