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Trading strategy for EURUSD in Nonfarm payrolls week

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  • Trading strategy for EURUSD in Nonfarm payrolls week

    It is expecting an important business week that will give new signals to the Fed and investors for the Fed interest rates politic. The most important event is in Friday at 13:30 GMT when is the report for U.S. Unemployment.
    For the moment it is expecting between two and four interest rates hikes this year. The event in Friday will send new signals that will move EURUSD strong.
    The first important event that recommends to focus this week is in Tuesday at 15:00 GMT U.S. Consumer Confidence. On Wednesday there are important events from Germany CPI at 12:00 GMT; Thursday Germany Unemployment Rate at 7:55 GMT is expecting at 6.2% the same as prior month, Euro Zone CPI at 9:00 GMT and ECB Monetary Policy Meeting at 11:30 GMT.
    The major focuses that will move the market whole week are U.S. Nonfarm Payrolls, Nonfarm Private Payrolls and Unemployment Rate at 13:30 GMT. The low Unemployment rate and the large number of new opening work places will push the investors to buy dollars.
    In the technical analysis the first support is formed at 1.1145 followed at 1.1085. The key resistance is at 1.1342. The technical analysis shows bullish while the fundamental analysis is bearish. recommends this week to sell euro for dollars. You can sell at the levels of 1.1230 with target below 1.1085.
    EURUSD27March2016.png - Forex, Stock, Energy and Metal signals to the world