The U.S. dollar, as measured by the DXY index, pulled back modestly on Thursday but remained near three-month highs, in a session characterized by wild swings across asset classes and a sharp retreat in U.S. bond yields, ahead of the U.S. nonfarm payrolls report slated to be released Friday morning.
The February employment survey is forecast to show a downshift in hiring, with analysts anticipating a gain of 205,000 jobs after January's stunning 517,000 surge. The strength of the report will be key in determining the trajectory of monetary policy, so traders should keep an eye on the economic calendar.
EURUSD long term trend is still down. However, currently on the h1 chart, this currency pair is in a deep correction. Recommend to wait to sell when the price returns to 1.0630, SL: 1.0670, TP: 1.0530
The February employment survey is forecast to show a downshift in hiring, with analysts anticipating a gain of 205,000 jobs after January's stunning 517,000 surge. The strength of the report will be key in determining the trajectory of monetary policy, so traders should keep an eye on the economic calendar.
EURUSD long term trend is still down. However, currently on the h1 chart, this currency pair is in a deep correction. Recommend to wait to sell when the price returns to 1.0630, SL: 1.0670, TP: 1.0530
