Good day forex traders.
Welcome to another update of the EUR/USD currency pair. We noted much positive developments recently for the markets and this is especially for the US. The recent Non-Farm Payroll was much better than expected.
Looking at the EUR/USD 4 hourly chart above we note that the currency pair is on a bullish momentum so far. Be careful as we may run into a resistance. If all goes well we should be considering 1.3110 as a possible target.
The bullish momentum may well be a continuum of the positive sentiments streaming from the surprising US NFP. Watch out for any adverse event derailing the momentum. Especially from the Euro Zone.