EUR/USD Analysis (2016.03.04)
The EUR/USD pair rose rapidly during the course of the day on Thursday as we broke above the top of the hammer from Wednesday. As we had suggested yesterday, this market rose towards the 1.10 level. Now that we have the Nonfarm Payroll Numbers coming out today, we can have a massive amount of influence brought into this market. Having said all that though, we still believe that the market will probably end up in the same consolidation area that we’ve been in for a while now, so we will wait until the end of the day to place any trades but right now suspect that the range will be between the 1.08 level on the bottom and the 1.1050 level on the top.