NEWS: EURUSD price decreased 0.9%. The EURUSD and all other USD pairs are falling sharply as stronger nonfarm payroll data came in stronger than expected, leading to speculation that the Federal Reserve could maintain a hawkish interest rate stance.
Possible Scenarios:
If EURUSD fails to breach through S2 of 1.04315, our Research Department expects the EURUSD to undergo a short- term upward correction.
If EURUSD manages to break below its S2 of 1.04315, our Research Department expects the EURUSD to extend its losses to its S3 of 1.04022
Support and Resistance Levels:
EURUSD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.04022 |
1.04315 |
1.04609 |
1.05000 |
1.05391 |
1.05685 |
1.05978 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €94.9 |
(+/-) £81.41 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.05376
***GBP/USD = 1.22832
Calculations for exchange rate used as of 13:35 (GMT) 02/12/2022