Fed’s Powell is not forecasting a recession in the United States (US), helping EUR/USD to inch lower. The level to beat for bears is the 1.0981 support level. EUR/USD daily chart On the daily time-frame, the common currency is trading in a bear trend below the main daily simple moving averages (DSMAs). This Friday, the US Non-farm Payrolls (NFP) in the United States (US) came in below forecast with only 130K jobs added in August vs. 158K expected. However, the wages, the Average Hourly Earnings beat expectations with 3.2% vs. 3.1% expected. Earlier, the FOMC’s Chairman, Jerome Powell said he was not forecasting a recession in the US. His upbeat comments triggered some modest uptick on the USD, translating in weakness on the EUR/USD currency pair. EUR/USD four-hour chart EUR/USD is consolidating the recent recovery stemming from the 2019 low. The Fiber is trading below the downward sloping 100 and 200 SMAs suggesting a bearish bias in the medium term. Sellers need to overcome 1.1009 key support if they want to drive the market towards 1.0981 and 1.0063 support levels, according to the Technical Confluences Indicator. EUR/USD 30-minute chart The Euro is trading just below the 1.1038 resistance level and the 50/100 SMAs, suggesting a consolidation down in the near term. Buyers would need to regain the 1.1073 resistance level to generate upside interest. Additional key levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Weekly review – Here is what you need to know FX Street 4 years Fed's Powell is not forecasting a recession in the United States (US), helping EUR/USD to inch lower. The level to beat for bears is the 1.0981 support level. EUR/USD daily chart On the daily time-frame, the common currency is trading in a bear trend below the main daily simple moving averages (DSMAs). This Friday, the US Non-farm Payrolls (NFP) in the United States (US) came in below forecast with only 130K jobs added in August vs. 158K expected. However, the wages, the Average Hourly Earnings beat expectations with 3.2% vs. 3.1% expected. Earlier, the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
