The positive stats coming from the French labor market contributed to the start of the upward move in the market of EURUSD. The French Non-Farm employment stats increased from -0.1% up to 0.1%. The inflation figures for the Eurozone (annual and core inflation) remained stable at 0.4% and 0.8% respectively in July 2014. This triggered an upswing of EURUSD, thereby making the currency pair hit 1.3395.
The weaker-than-expected employment report from the USA triggered another upswing to 1.3407. Still, the SU Dollar managed to regain some of the lost ground by the end of the trading day, thereby closing the day at 1.3370
Today's trading session started with a sideways move within the scope of the 1.3358-1.3407 price range.
EURUSD Prospects Before Weekend
Masterforex-V Academy reports that the currency pair is currently trading within the framework of the 1.3335-1.3414 range. The range is formed by the high and low of the latest bullish wave.
Still, there is a tighter range inside of this one. The key price range inside the mentioned one is 1.3348-1.3407. Masterforex-V Academy experts assume that the direction in which the price breaks out of the range will determine the direction of the near-term price tendency. Therefore, traders should watch it closely in order to improve the probability of getting winner.
