The Euro has gone on the path of recovery and gas seems to be gaining a bullish trend for a fourth week at a scratch. At the same time, there are obvious signs of the USD rally exhaustion, as the old good dollar still has not received a somewhat remarkable boost from trade warfare worries and the predatory Federal Reserve.
Only robust German data supported currency rebound in these recent times, even affairs with industrial orders and industrial production show a positive tendency despite all negative forecasts, which definitely settle hesitations about the economy of the Euro area. And the latest positive signals from the European Central Bank only contributed to the bullish pressure.
As for now, the market is anticipating the next monthly employment report from the United States. This data may drive a buying interest in the American currency, provided the numbers in this report are positive and prove that there are no threats to the labor market. Therefore, EURUSD will prolong its corrective rebound from 2018 minimums at 1.15 only in case if numbers from the employment report disappoint. In such a scenario, this currency pair will hit the 1.1720 transient resistances and may even grow to 1.1750, raising the possibility of making a profit.