The USD hit three-week lows on Friday after data showed the U.S. economy created more jobs than expected in June, but a closely watched inflation gauge - wage growth - rose less than forecast and the unemployment rate increased.

As a result, expectations dimmed somewhat that the Federal Reserve would raise interest rates a fourth time this year. Our EUR/USD long looks good now

This is how we trade now:


Trading strategy: Long

Open: 1.1700

Target: 1.1830

Stop-loss: 1.1635

Recommended size: 2.50 mini lots per $10,000 in your account

Short analysis: The long remains in solid shape. A new short-term high has been set, RSIs are biased up, the 61.8% Fib of 1.1853-1.1508 and daily cloud base have been pierced and the 10-day sMA is about to cross above the 21-Day SMA. The 1.1830 target looks set to be hit soon.

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