Today the EUR/USD shared currency pair is trading in lower side of trading chart in the close vicinity of the 1.1730 level and it is showing some serious signs of moving even downwards close to the 1.1720 point.
EUR/USD analysts now believe that the shared currency pair will continue its descent all the way towards the 1.1700 level and any hope of recovery will be inexistent in this trading session.
In the meantime EUR/USD traders feel very confident that the USD DXY Index will increase in value due to the new employment data therefore the DXY will post some positive points hopefully the recent release of the United States inflation data will help ease off the tension on the trading chart.
EUR/USD traders are still patiently waiting for the second quarter data release of the non-farm data as well as the releases of the crude figures report.
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High = 1.1790
Low = 1.1710
S3 = 1.1678 S2= 1.1735 S1 = 1.179\2
R1 = 1.1912 R2 = 1.1971 R3 = 1.2030
For the time being the EUR/USD shared currency pair is going downwards by a negative value of -0.21% and it is trading close to the 1.1730 level therefore by breaching the 1.1719 level this will definitely clear the trading path towards the 1.1668 level followed close up by the 1.1612 point.
On the other side of the coin there are several strong points beginning with the 1.1785 level continuing with the 1.1825 level and lastly ending with the 1.1892 point.