Allene Mckamey YDLS
Crypto Enthusiast & Trader. Stay updated with market insights and Analysis.
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Thursday Mission
The Federal Reserve's decision to maintain high interest rates to control inflation is bolstering the USD, which directly impacts EUR/USD trading.
With this in mind, you might consider taking short positions in EUR/USD, anticipating a stronger dollar.
Here's a quick strategy guide:
Downside Alert: If EUR/USD falls below 1.0920 and then 1.0880, be prepared for a further drop towards 1.0850.
Upside Potential โ: On the other hand, if it climbs past the 1.0950 to 1.0960 resistance area, look for a move up towards 1.1000 or possibly 1.1020.
Keep these levels in mind for strategic trading moves based on the Fed's approach and the resulting USD strength.
Share your thoughts ๐ญ
The Federal Reserve's decision to maintain high interest rates to control inflation is bolstering the USD, which directly impacts EUR/USD trading.
With this in mind, you might consider taking short positions in EUR/USD, anticipating a stronger dollar.
Here's a quick strategy guide:
Downside Alert: If EUR/USD falls below 1.0920 and then 1.0880, be prepared for a further drop towards 1.0850.
Upside Potential โ: On the other hand, if it climbs past the 1.0950 to 1.0960 resistance area, look for a move up towards 1.1000 or possibly 1.1020.
Keep these levels in mind for strategic trading moves based on the Fed's approach and the resulting USD strength.
Share your thoughts ๐ญ
#$WATCH OUT โ #EURUSD #Thursday #UPDATE
Big News! ๐ U.S. private employers are hiring more than we thought ๐ญ. In December, they added 164,000 jobs - way more than the 115,000 expected by experts.
This is a big jump ๐ฆ from November's 101,000 jobs.
This shows that the job market is still strong which might make the Federal Reserve think twice about lowering interest rates soon.
The next big release is the December NonFarm payrolls report coming out Friday.
This has implications for the EUR/USD price target so we'll remind you in case you missed. If #EURUSD dips below 1.0920 and then further past 1.0880, you should watch for a potential drop towards 1.0850, a key technical level.
Conversely, if the #EURUSD starts climbing and breaks past the 1.0950 to 1.0960 resistance zone, it could head towards 1.1000 or even 1.1020.
All eyes on NFP Tomorrow. BULLISH ? ๐ซข
Big News! ๐ U.S. private employers are hiring more than we thought ๐ญ. In December, they added 164,000 jobs - way more than the 115,000 expected by experts.
This is a big jump ๐ฆ from November's 101,000 jobs.
This shows that the job market is still strong which might make the Federal Reserve think twice about lowering interest rates soon.
The next big release is the December NonFarm payrolls report coming out Friday.
This has implications for the EUR/USD price target so we'll remind you in case you missed. If #EURUSD dips below 1.0920 and then further past 1.0880, you should watch for a potential drop towards 1.0850, a key technical level.
Conversely, if the #EURUSD starts climbing and breaks past the 1.0950 to 1.0960 resistance zone, it could head towards 1.1000 or even 1.1020.
All eyes on NFP Tomorrow. BULLISH ? ๐ซข
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