After seeing amazing (borderline fake) data from the US yesterday, I am expecting a really strong NFP report reaching circa 300k vs 225k, this will push EUR/USD down to 1.08, should NFP disappoint I expect EUR/USD to rise to upper supply zone of 1.0925 where it will be sold off back down below 1.09 level.
Sour sentiment plus really poor EU data recently puts me on a short term bearish stance on the pair.
However I expect by the end of 2023 for the pair to reach 1.10 mark comfortably.
Sour sentiment plus really poor EU data recently puts me on a short term bearish stance on the pair.
However I expect by the end of 2023 for the pair to reach 1.10 mark comfortably.
Comment:
Perfect reaction of the pair now at resistance, I expect a fall down from there, overall the report has been weak, however the increase in working hours and also earnings will be a factor in inflation pressure.
Comment:
Interesting moves by EUR/USD, typical short squeeze in my opinion, touching the second to top supply zone perfectly, shorting from this point.