EUR/USD hovers around 1.0800
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The EUR/USD exchange rate rose from its weekly low near 1.0750 and climbed above 1.0800 on Thursday, driven by a weaker US dollar. The focus now shifts to the official employment data from the United States, which is expected to be released on Friday.
From the analysis chart: The EURUSD currency pair received support from the 1.075 level and started to recover. According to the Dow theory, the second corrective wave is currently taking place, with an immediate resistance level at 1.084. If EURUSD surpasses that level, it will continue to rise rapidly towards the 0.5 - 0.618 Fibonacci retracement level before the third wave of the Dow continues.
The EUR/USD exchange rate rose from its weekly low near 1.0750 and climbed above 1.0800 on Thursday, driven by a weaker US dollar. The focus now shifts to the official employment data from the United States, which is expected to be released on Friday.
From the analysis chart: The EURUSD currency pair received support from the 1.075 level and started to recover. According to the Dow theory, the second corrective wave is currently taking place, with an immediate resistance level at 1.084. If EURUSD surpasses that level, it will continue to rise rapidly towards the 0.5 - 0.618 Fibonacci retracement level before the third wave of the Dow continues.
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