Euro extends gains 7/3/2025

The Euro extended its gains during the previous trading session, surpassing the target of 1.0715 and reaching a high of 1.0853.

Technical Outlook

• Bullish Support:
  • On the 4-hour chart, the simple moving averages continue to support the daily upward trend.
  • Intraday trading remains stable above the resistance level of 1.0715—now serving as support—located around the 50.0% Fibonacci retracement level.
• Potential Upside:
  • The bullish scenario appears intact as long as trading remains above 1.0715.
  • A break above 1.0830 (the 61.80% Fibonacci level) could pave the way for a move toward 1.0895 as the next target, with further gains potentially extending to 1.0920.
• Bearish Contingency:
  • Conversely, if trading falls below 1.0715 with an hourly candle close, the downward trend could resume, potentially leading to a retest of 1.0645.

Risk Warning

• Economic Data Impact:
  • Today’s release of high-impact US economic data—US non-farm payrolls, unemployment rates, and average wages—may generate significant volatility.
• Market Uncertainty:
  • Ongoing trade tensions and other risks mean that multiple scenarios remain possible.

⚠ Risk Warning: The market remains highly volatile, and all scenarios should be considered.

S1: 1.0645	R1: 1.0895
S2: 1.0495	R2: 1.1000
S3: 1.0395	R3: 1.1145