Technical Analysis:
EURUSD is trading around 1.07658 and we saw on Friday price went to our POI from where we were expecting to sell but did not get any chance. EurUsd grabbed liquidity from asian high and we are looking for selling opportunity as we get a market structure shift on 15 min time frame. EURUSD looks bearish and If DXY also give an confirmation then we can go for sell in EURUSD.
Fundamentals:
The EURUSD pair advanced on Friday and was off to a slow but firm start of the new week after the latest US data stirred up forex markets. The Labor Department released its monthly nonfarm payrolls report, showing that America’s employers added 175,000 new hires in April. The figure was way below the consensus of 238,000 and that dented the confidence in the US dollar.
Fewer jobs created were welcome news for investors left and right. A contracting economy suggests that the Federal Reserve’s rate-cut campaign might be on the table again. Previously, Fed chair Powell pushed back against expectations of rate trims due to incoming streams of hot data. And since the Fed is data-dependent, policymakers might now be reconsidering the rate cuts as a way to support the economy.
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