EURUSD is moving in trading range of 1.11200-1.12800 ahead of NFP figures due tomorrow. Don't expect a weak NFP figure tomorrow on Friday after 9th straight better than expected weekly jobless claims. I expect the NFP figures to come more than 200K.
I expect the breakout towards the downside will occur soon or maybe Friday is the day for the breakdown. The outlook remains BEARISH for EURUSD and Hence traders should remain with their short positions with stop loss just above 1.12800. Take profit levels should be set at 1.10400 initially and after breaking 1.10400 figure add more short positions and set your take profit levels at 1.09500.
All in all EURUSD is in the downtrend with 1st target at 1.10400 and 2nd at 1.09500.
Wish you Good Luck
I expect the breakout towards the downside will occur soon or maybe Friday is the day for the breakdown. The outlook remains BEARISH for EURUSD and Hence traders should remain with their short positions with stop loss just above 1.12800. Take profit levels should be set at 1.10400 initially and after breaking 1.10400 figure add more short positions and set your take profit levels at 1.09500.
All in all EURUSD is in the downtrend with 1st target at 1.10400 and 2nd at 1.09500.
Wish you Good Luck
