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EUR/USD faces strong resistance around 1.14375, market awaits NFP data for further direction

  • Candlestick Pattern- Shooting Star
     
  • Major resistance -1.4375
     
  • The pair has made a high of 1.4117 and slightly retreated from that level. It is currently trading around 1.13802.
     
  • Short term trend is slightly weak as long as resistance 1.14375 holds.
     
  • Market awaits US Non Farm Payroll data which is to be released for further direction.
     
  • US NFP is expected to show 208k growth in March compared to 242k in Feb and unemployment rate to be unchanged at 4.9%.
     
  • Any break above 1.14375 will take the pair to next level around 1.1500/1.15486.
     
  • On the lower side major support is around 1.1345 and break below targets 1.1280/1.1200/1.1155.
     
  • Short term trend reversal only below 1.1050.

It is good to sell on rallies around 1.1385 with SL around 1.14375 for the TP of 1.1280/1.1200

  • Market Data
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