EUR/USD – Technical Analysis (H1)
EUR/USD is testing critical medium-term trendline support at 1.1515–1.1520 ahead of today’s Non-Farm Payrolls release. A break lower would end the uptrend and open the path toward 1.1400.
The pair is currently resting on critically important support from the medium-term trendline (1.1515–1.1520 zone). A decisive break below this level would officially terminate the uptrend and open the door for a sharp decline toward 1.1470 and subsequently 1.1400. That said, today’s release of the highly volatile Non-Farm Payrolls (NFP) data keeps the near-term outcome highly uncertain.
Key Levels:
□ Critical support: 1.1515–1.1520
□ Downside targets: 1.1470 / 1.1400
□ Upside target: 1.1580–1.1600
Primary Scenario:
Range-bound action until the news release, followed by a decline toward 1.1400.
Alternative Scenario:
Rally after the NFP release toward a new high in the 1.1580–1.1600 area.
Analyst Commentary:
Sessions such as today (the first Friday of the calendar month) tend to be the most volatile of the entire month. Exercise caution.
Nikolai Krishtopov es analista de mercado en Investizo, con más de 15 años de experiencia en el sector de los mercados financieros y más de una década de experiencia operando. Sus áreas de interés incluyen los mercados de forex y criptomonedas, el análisis técnico, el trading intradía y el comportamiento del mercado.