EURUSD: Breaking one Resistance after the other
New High today, 4th straight green 1D candle and EURUSD is only a few points away from hitting the 1.06180 (June 27th High) Resistance. If it breaks it, we will take another buy and target the 1.0787 (May 30th High) Resistance as the 1D technicals remain strong (RSI: 69.918, MACD: 0.014, ADX: 43.547). As far as Friday's NFP is concerned, it happened exactly as planned, the higher than expected number caused a sell-off initially as the market translated it as a sign that a growing U.S. economy might make the Fed soften the hikes by a lesser extend to what Powell mentioned earlier this week. However, this is a positive reading on the long-term. This bullish trend will be invalidated if the price breaks below 1.03200, in which case we will sell and target the 4H MA200 (currently at 1.01426 and rising).
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