FOMC & NFP Clash This Week! What Will Happen to EUR/USD?

<p>The US dollar was seen moving slightly gloomy at the close of trade at the end of last week with PCE price index data observed in the last session.</p><p><br /></p><p>The main focus is on this week which will be directed to the FOMC meeting early Thursday morning.</p><p><br /></p><p>The results of the meeting and the follow-up speech by Federal Reserve (Fed) Chairman Jerome Powell will answer questions about the central bank's monetary policy speculation that has been floating around before.</p><p><br /></p><p>The US dollar will receive a big impact this week and the NFP employment data will also be published on Thursday.</p><p><br /></p><p>Will the US dollar show a move like last week's Euro which lost after the decision of the European Central Bank (ECB) meeting which kept interest rates?</p><p><br /></p><p>ECB President Christine Lagarde has stated that it is too early to talk about interest rate cuts, what about the Fed this week?</p><p><br /></p><p>Examining the price movement chart of the EUR/USD currency pair, the price is seen to be still moving in the flat zone last week, but slightly larger than the range in the previous week's movement.</p><p><br /></p><p>The lowest level recorded last Friday was around 1.08130 and before the price reached the concentration level of 1.08000, the increase occurred again to around 1.08800.</p><p><br /></p><p><br /></p><p>The price movement is still moving below the barrier line of the Moving Average 50 (MA50) on the 1-hour time frame on the EUR/USD chart, signaling that the trend is still bearish for the price.</p><p><br /></p><p>If the price is pushed lower at the beginning of this week, the 1.08000 zone remains a focus target to be hit and tested by the price.</p><p><br /></p><p>Breaking through the zone will see the bearish movement continue towards the next target at 1.07000 and will record the latest 11-week low.</p><p><br /></p><p>However, if the price moves to make an increase beyond the MA50 barrier, the 1.09000 zone will be tested before signaling the start of a move for a bullish trend.</p><p><br /></p><p>Higher gains if continued will reach up to the 1.1000 level to test the important resistance that was the focus of early January.</p>