By Ion Jauregui - ActivTrades Analyst
The EUR/USD is at a point of high volatility this Friday, marked by the release of the US jobs report and the speech of Christine Lagarde, president of the European Central Bank (ECB). These key factors will influence investors' decisions and the direction of the currency market.
U.S. Employment Data: Impact on the Dollar
The February nonfarm payrolls report is the main macroeconomic event of the day. Job creation of 156,000 is expected, up from 125,000 in January, while the unemployment rate is projected at 4.0%. If the data beats expectations, it could strengthen the dollar, putting downward pressure on EUR/USD. If not, the pair could see a rebound.
Lagarde's speech: possible clues on ECB monetary policy
Markets will be watching Christine Lagarde's speech for clues on the direction of ECB monetary policy. With inflation still above the 2% target, any comments suggesting a tightening stance could boost the euro. However, if Lagarde adopts a more dovish tone, it could put downward pressure on the common currency.
EUR/USD Technical Outlook
From a technical point of view, the EUR/USD remains within a key range. Immediate support is at 1.1818, while key resistance is at highs of 1.12132. A break below support could take the pair towards 1.05140, while a bullish breakout could allow it to test 1.12, if this breakout is successful it could advance to 1.14896.
Other factors to consider
Market sentiment is also affected by volatility in cryptocurrencies and the performance of stock indices. Bitcoin and Ethereum post significant declines, while Asian and US markets trade with a negative sign, reflecting investors' nervousness ahead of macroeconomic data.
Conclusion
EUR/USD will be determined today by the strength of the US labor market and ECB statements. In an environment of uncertainty, volatility will remain high, offering opportunities for both short-term traders and strategic investors.
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The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
The EUR/USD is at a point of high volatility this Friday, marked by the release of the US jobs report and the speech of Christine Lagarde, president of the European Central Bank (ECB). These key factors will influence investors' decisions and the direction of the currency market.
U.S. Employment Data: Impact on the Dollar
The February nonfarm payrolls report is the main macroeconomic event of the day. Job creation of 156,000 is expected, up from 125,000 in January, while the unemployment rate is projected at 4.0%. If the data beats expectations, it could strengthen the dollar, putting downward pressure on EUR/USD. If not, the pair could see a rebound.
Lagarde's speech: possible clues on ECB monetary policy
Markets will be watching Christine Lagarde's speech for clues on the direction of ECB monetary policy. With inflation still above the 2% target, any comments suggesting a tightening stance could boost the euro. However, if Lagarde adopts a more dovish tone, it could put downward pressure on the common currency.
EUR/USD Technical Outlook
From a technical point of view, the EUR/USD remains within a key range. Immediate support is at 1.1818, while key resistance is at highs of 1.12132. A break below support could take the pair towards 1.05140, while a bullish breakout could allow it to test 1.12, if this breakout is successful it could advance to 1.14896.
Other factors to consider
Market sentiment is also affected by volatility in cryptocurrencies and the performance of stock indices. Bitcoin and Ethereum post significant declines, while Asian and US markets trade with a negative sign, reflecting investors' nervousness ahead of macroeconomic data.
Conclusion
EUR/USD will be determined today by the strength of the US labor market and ECB statements. In an environment of uncertainty, volatility will remain high, offering opportunities for both short-term traders and strategic investors.
*******************************************************************************************
The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.