7 Aug 2015
EUR/USD forecast: all eyes on Payrolls – Commerzbank and Danske Bank
FXStreet (Edinburgh) - EUR/USD is trading almost unchanged above the 1.0900 mark vs. the dollar, ahead of the critical July’s Non-farm Payrolls in the US economy (223K exp.).
Axel Rudolph, Senior Technical Analyst at Commerzbank argued, “Minor resistance is found 1.0963/1.1000 ahead of 1.1129, the late July high. While it caps, we will retain a negative bias. Above it lies the 1.1216 July high. Medium term we continue to look for EUR/USD to remain capped by the May and June highs at 1.1440/68”.
In addition, Senior Analyst at Danske Bank Morten Helt suggested, “In global FX markets today’s focus will clearly be on US non-farm payrolls, which we expect will come out in line with consensus. Hence, we expect limited impact on the DXY Index and EUR/USD”.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
Axel Rudolph, Senior Technical Analyst at Commerzbank argued, “Minor resistance is found 1.0963/1.1000 ahead of 1.1129, the late July high. While it caps, we will retain a negative bias. Above it lies the 1.1216 July high. Medium term we continue to look for EUR/USD to remain capped by the May and June highs at 1.1440/68”.
In addition, Senior Analyst at Danske Bank Morten Helt suggested, “In global FX markets today’s focus will clearly be on US non-farm payrolls, which we expect will come out in line with consensus. Hence, we expect limited impact on the DXY Index and EUR/USD”.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!