Bucks are in control of Bulls

ByDavid

The dollar is currently on an upward trend, and looks poised to continue climbing higher in the near future. This upward momentum could provide a great opportunity to buy USD-denominated assets or currency.

On Friday, the United States jobs report was positive but with negative news of Russia halting the Nord Stream pipeline, the main factor that contributed to the euro and pound weakening towards the end of the day. This Effected stocks and resulted in the dollar remaining strong and maintained that momentum as the new week began.

Even this is Banking holiday in USA but technically market may run better than normal days.  EURUSD is stuck near its previous support but it can push more lower.

picture of eurusd trading chart before ECB

Euruusd Daily Chart

A push below 0.9920  will see sellers gain fresh momentum in the push to the downside and leave open plenty of room to explore towards 0.9500.  Currently Eur is near its previous TL line which may cause a rejection and may through near its uper trendline or 200 SMA.

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