As the overall US employment went down by approximately half of the forecast amount, the euro reached a 2-week high against the dollar. As long as the EUR/USD forex trading pair maintains an exchange rate that’s beyond the 1.2800 level, the momentum is on a bullish trend and a long position is expected. The EUR/USD forex pair exchanged at a high of 1.2897 and a low of 1.2808.

As for the pound, however, it fell versus the dollar, the longest series of losses ever since the month of June. Based on reports, house prices went down, triggering concerns that the economic recovery will fail. The reports have also showed that UK Services grew at a snail’s pace. Since the GBP/USD is still trading within a negative range, this pair is in a bearish momentum. The GBP/USD exchanged at a high of 1.5468 and a low of 1.5389. On the 1-hour chart, the next resistance level for the pair is at 1.5500.