We witnessed an extremely volatile on Friday. The EUR/USD pair started out at $1.0965, rose to $1.11 level and then declined to $1.0980.
From a technical point of view, the 10 MA and 20 MA on a daily time frame are very close, and might cross upwards. RSI indicator is in a selling level below 50, and it seems that the pair is struggling to create new lows. Resistance point is set on $1.11, support level is in $1.0896.
The technical analysis at the moment is mixed, and doesn’t reveal any clear direction.
What to expect on Monday?
On Monday the 3rd, 23 report will come in. Most of them are manufacturing reports in the EU zone and in the USA. After Monday we expect to have a clear technical overall picture. Either the market will continue down below $1.09 and both moving averages will start to shape down, or the market will go up and 10 MA will cross upwards.