(DAILY NOTION) EUR/USD Settle in the Balance Ahead of NFP, Next Mover: December U.S. NFP Data Release

Illustration photo of EUR/USD daily chart from Tradingview

EUR/USD is currently trading around 1.2220,  which is slightly below yesterday's low of 1.2235.

Investors will be focus on the U.S. NFP data that will release later today. With most of those who were expecting the number to come at 71,000. The NFP data for today will have minimal impact on the EUR/USD unless it shows a significant surprise. Besides that, Congress, under a Democratic majority, will implement another stimulus in the next few weeks.

It is possible to gain additional momentum in the short-term in case the right catalysts emerge as the RSI indicator currently at the moderate territory. As reported by Vladimir Zernov, He pointed out that EUR/USD will move towards the next support level at 1.2225 if manage to test the support level at 1.2250.

Besides that, on the upside, he pointed out that EUR/USD will move towards the resistance level at 1.2310 if manage to get above the level at 1.2280. EUR/USD will then move to the next resistance level at 1.2325 if it gets above the 1.2310 level.

FOLLOWME EUR/USD Overall Sentiment (As of 04:40 p.m., Jan 08, 2021),

Short - 54.58%

Long - 45.42%

For information please refer to Vladimir Zernov.