Forex forecast for 4 May 2017.
Yesterday the pair fell to the level of 1.0900, however the downward movement stopped here. If the retail sales data is better than expected, the euro will be able to return to the previous range, but the consolidation will remain at least until Friday, or even until Sunday evening, when the results of the presidential elections in France will be announced.
Yesterday the pair moved in the middle of the range 1.2800-1.2900. Now the local support is at the level of 1.2860, and the resistance is at 1.2900.
Yesterday the pair lost a lot. It passed a locally important resistance of 112.70. The next target is 113.20, after it – movement to 114.50/60. The US labor market report will be published on Friday and it can affect the yen.