The market continues to give warm surprises!
The Euro re -translated the strengthening after getting a surprise result from the European Central Bank (ECB) meeting which tended to raise interest rates.
The trend came after President Christine Lagarde expressed concern about inflation, which is currently likely to remain higher than previously expected.
The matter has also totally supported the Euro to strengthen in style in the New York session (Thursday) and thus it continues to pressure the USD to remain traded weak.
This situation can be seen after the price movement on the chart of the EUR/USD currency pair once again showed a rise of around 200 pips to return to reach the 12 -month high of 1.15000.
That is, the rise seems to have already penetrated the focus zone at 1.13000 and continue to move above the resistance level of the Moving Average 50 (MA50) for a bullish trend signal.
Indirectly, investors are likely to make a more pronounced assessment of the 1.15000 resistance zone to anticipate the next price movement reaction.
But if the US NFP data report is published positive in the New York session tonight (Friday), then investors will probably place an initial target at 1.14000 to re -test.
More aggressive positive pressure will indirectly suppress the price movement to reach the RBS (resistance become support) zone of 1.13000 before the price is expected to be able to continue to decline.
Meanwhile, if the US NFP data report records a gloomy reading as before, the resistance zone of 1.15000 is likely to be overcome and the price is likely to continue to trend up.
The rise above the resistance zone is also very likely to realize the newly created highs where the price is expected to continue climbing to reach the 1.16000 zone.
