The currency pair climb sharply last week. However, the pair has already slowed down a little bit and right now is balancing at 1.1432.
Last Friday, financial markets got additional signals in favor of a rate hike by the US Federal Reserve System in the nearest future.
The Unemployment Rate in the US showed 4% in January after being 3.9% the month before. This might be an adjustment for seasonal fluctuation because the decline was not critical. The Non-Farm Payrolls report showed 467K after being 510K in December and against the expected reading of 110K.
The Average Hourly Earnings added 0.7% m/m, which turned out to be better than expected.
In the H4 chart, having finished another ascending wave at 1.1480 along with the descending impulse towards 1.1410, EUR/USD has completed the correction to reach 1.1460; right now, it is falling to break 1.1410 and reach the short-term target at 1.1355. After that, the instrument may correct to test 1.1410 from below and then trade downwards with the first target at 1.1342.
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