Weekly trade idea on EUR/USD & NFP
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Week: 1-5.03.2021
Key event: USD. Non-Farm Payroll
The number of new jobs created during the previous month, in all non-agricultural business. The monthly changes in payrolls can be extremely volatile, due to its high relation with economic policy decisions made by the Central Bank.
We expect a higher reading than the previous month.
Until Friday, we can expect a light strengthening of the USD against other currencies. It would require a very positive or negative surprising release for the USD to break actual ranging levels.
Key Levels:
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Resistance 1.2300, 1.2400
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Support 1.1950, 1.1900
Trend EUR/USD:
Neutral
Price is ranging between 1.2300 and 1.1950. Last week, the price closed with false up movement and a strong bearish movement, heading support levels.
Call to Action/Trade Idea
We will look to buy near supports and to sell near resistance after a price action confirmation.
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