EURUSD Technical Analysis: Key levels to watch ahead of US jobs day

<p>The clock is ticking toward the close of the day, and the start of the new trading panel day. Tomorrow, is US non-farm payroll day and the EURUSD traders, are setting up for that event. More specifically, the pair is trading near its 50% retracement level on both the daily and hourly charts. Technically speaking the 50% midpoint is often a key barometer for buyers and sellers and also a more neutral level in the battle between the bulls and the bears. </p><ul><li>Looking at the daily chart, the 50% midpoint of the trading range since the 2020 high to the 2022 low comes in at 1.0942</li><li>Looking at the hourly chart, the 50% midpoint of the trading range since the December low comes in at 1.0931.</li></ul><p>The current price is trading at 1.0944 and has been trading above and below each of those 50% retracement levels over the last few days.</p><p>Technically, those levels will be the barometers for the next move. </p><ul><li>Stay above the 1.0931-42 is more bullish</li><li>Move below the 1.0931 level is more bearish. </li></ul><p>For a full review of the technicals and the "whys" watch the video above. </p>

This article was written by Greg Michalowski at www.forexlive.com.