Back to Blog

EUR/USD: The bulls are back in town ahead of US NFP

Following a weak ADP report, the USD lost ground across the board with the EUR/USD climbing back 10 1.36 before closing at 1.358. This morning the bulls have already taken the upper hand with the market trading at 1.36 at the time of writing and further upside potential likely to us to new highs. Near term resistance level to look at sits at 1.37. A break above that area would confirm the upward bias and open the way towards 1.371. With the US NFP due for release tomorrow, we expect the report to be the catalyst for any major price movement in the market. In the alternative scenario, we would have to see the market falling below 1.356 in order to re-consider our outlook, but this is hard to imagine at the moment.

Dafni Serdari
Market Analyst, Spread betting & CFDs
Spread betting and CFD trading carry a high level of risk to your capital and can result in losses that exceed your initial deposit.
The comment in this blog is the personal opinion of the contributors and not The content does not constitute financial, investment or tax advice. You are advised to discuss your specific requirements with an independent financial adviser prior to entering into any bet. is not responsible and disclaims any and all liability for the content of comments written by contributors to the blog, and the content of any third party sites linked from this blog.

Share this post

Back to Blog

Spread betting and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading these products with this provider.
You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.