EUR/USD, USD/CAD, and USD/JPY Short-Term Forecast for and 07/08/2026

EUR/USD, USD/CAD, and USD/JPY Short-Term Forecast for and 07/08/2026

Source: EODHD - https://finance.yahoo.com/markets/currencies/articles/eur-usd-usd-cad-usd-145448607.html
Published: Aug 07, 2026 10:54 AM

EUR/USD Technical AnalysisEUR/USD spikes to 1.1557, piercing the 1.1550 resistance level after consolidating above the 200-period EMA near 1.1500. Source: TradingView The U.S. dollar has taken a bit of a hit early during the trading session on Friday as the jobs report came out negative. That was in contrast to the expectations of an addition of about 85,000 jobs. That of course had the markets going crazy for a moment, but when we look at the overall reaction in the euro, it made sense as we pierced the most recent resistance barrier. But it looks like the market is revisiting that 1.1550 level. If it were to break down below there, that would, more likely than not, bring more questions tha...

Market context: This update is relevant to EUR traders, with EURUSD as the primary instrument to monitor for follow-through, trend continuation, or headline volatility.