7 September 2018, 13:47  Euro rises ahead of the US NFP

The Euro is trading little changed on the upside with abrupt moves within tight range. The currency pair is well locked above 1.1600 with the empty economic calendar in Europe unlikely to overshadow the US non-farm payroll report due later on Friday. The political risk of Trump administration imposing additional tariffs on $200 billion worth of Chinese imports could be a game changer. The EUR/USD continues trading under the downtrend resistance line that successfully rejected attempts to move higher. The pair is also attempting to climb above the 50 Simple Moving Average on the four-hour chart. Momentum and the Relative Strength Index are marginally positive. 1.1660 capped the pair earlier this week and is immediate resistance. 1.1690 held the EUR/USD down late last week. 1.1735 was a high point last week, and it is followed by the quadruple top of 1.1750 seen in July. 1.1610 was a low point on Thursday, and it is accompanied by the critical double-bottom at 1.1530. Further down, 1.1495 was a swing low late in August, and 1.1445 capped the pair beforehand.

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