Ikon forex "EUR/USD tent to get a slight rebound"

[laura]

Early in the Asia forex market on Monday (January 10), the forex price of EUR/USD mildly got a rebound to above 1.2900, and at the beginning of the forex market the lowest point this forex price had reached was at around the lowest point for four months at 1.2863.

The result of the non-farm employment report in US which was released on last Friday (January 7) continued to provide some support for USD in the forex market. Even though the employment number had increased by 1.03 thousand people, less than the previous expectation, but the unemployment rate of December slumped to 9.4 percent, which was the lowest level since May 2009.

After the data was released, the forex price of EUR/USD repeatedly got a rebound to above 1.3000, but later this forex price was finally closed below 1.2950 and went down to 1.2893 early in the forex market on Monday.

Some forex analyst pointed out in this forex trading session, because of the short-term advantage vacated as well as the demand for benefit taking, the forex price of EUR/USD tent to get a rebound. The first target of the rebound of this forex price would be going back to the trading range of 1.2950-60, and then it would point to 1.3020.

The forex price EUR/USD was reported to be at 1.2903/05 at 08:24 Beijing time.

Edited by Laura in IKON Group.