$EURUSD Forex Signal: Relief Pullback Likely On Profit-Taking
Enter your emailThere is a likelihood that the pair will give back some of its last week’s gains as investors target the support at 1.1365.Timeline: 1-2 days.pair continued its bullish rally as the market reacted to the latest interest rate decision by the European Central Bank and the strong American jobs data.
The situation changed during Christine Lagarde’s press conference. In it, she said that the bank will leave rates unchanged until the real interest rate remained above the target at 2%. Pressed about the issue, she refused to rule out a situation where the bank becomes more aggressive with rate hikes later this year.
The EUR/USD pair rally slowed after data by the American government showed that the labor market strengthened in the past two months. On Friday, the BLS upgraded its December jobs numbers to over 500k. It also reported that the economy added over 467k jobs in January while the unemployment rate rose slightly to 4.0%.
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