EURUSD is in a delicate situation, NFP Week
H4 in the following chart, you can frame the performance of EURUSD from post Brexit collapse on, with Fibonacci retracements which show that the counter-movement has been pushed up to exactly half of the last week's collapse
The resistance at 1,116 rejected down the pair, the listing of which is in a narrow consolidation phase enclosed between the moving average and the 20 to 60 periods.
The cut to the upside or downside of one of these two levels has the following objectives R / S (1,105, 1,110, 1,113, 1,116, 1,118, 1,123). The latest uptrend in euro-dollar could then finish within 1.11 share, ready to retrace within these levels, at least in the first part of the week.
The wait for the Non Farm Payrolls and less news from the EU front-UK will likely attract the attention from Wednesday onwards
Positive data in the US could give confirmation of the new downtrend undertaken by euro-dollar in the weekly chart, and then bring it back towards the accumulation zone around the 23.6, the 1.09 threshold.
The resistance at 1,116 rejected down the pair, the listing of which is in a narrow consolidation phase enclosed between the moving average and the 20 to 60 periods.
The cut to the upside or downside of one of these two levels has the following objectives R / S (1,105, 1,110, 1,113, 1,116, 1,118, 1,123). The latest uptrend in euro-dollar could then finish within 1.11 share, ready to retrace within these levels, at least in the first part of the week.
The wait for the Non Farm Payrolls and less news from the EU front-UK will likely attract the attention from Wednesday onwards
Positive data in the US could give confirmation of the new downtrend undertaken by euro-dollar in the weekly chart, and then bring it back towards the accumulation zone around the 23.6, the 1.09 threshold.
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