Permanecer 
Condições de Negociações
Ferramentas
EUR/USD
Friday's U.S. labor data turned out better than expected. The unemployment rate fell from 3.9% to 3.7%. And in response to the report, the balance indicator line stopped the initial downward movement. This was evidently influenced by the risk appetite, as the S&P 500 grew by 0.41%. It is very close to continuing its growth in the medium-term, and to achieve this, the quote needs to surpass the year's high of 4612 (July 27), paving the way for the pair to reach the record target of 4816 (January 2022).
From this perspective, the euro's growth is limited to the time when the S&P 500 continues to rise. Synchronization with this timeframe provides the pair with its first serious target level of 1.1076 – the upper band of the descending price hyperchannel, coinciding with the peak on April 14 (December 21-22).
On the 4-hour chart, a double convergence has formed, which could fuel the initial momentum in order for the price to rise further so it can consolidate above 1.0825. This would mean settling above the nearest embedded line of the price channel, marked on the daily chart. Subsequent consolidation above the MACD line (1.0850) would mean overcoming the Fibonacci ray on the daily chart and this could pave the way for the pair to reach the target level of 1.0905. Considering the upcoming Federal Reserve meeting, the euro's growth could be quite strong.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
