Hi traders,
Price broke the 110800 handle off the NFP pressure and held below this level.
The EUR is susceptible to dollar moves verses the GBP because of the lack of demand.
With the cross of the stochastic, if the dollar can maintain strength the EUR can look to test the 109920 level; the bottom of the range we defined.
On the other hand, we can expect this to be a pullback too the 110300 handle for a 618 pullback.
All the best,
Aardall
Price broke the 110800 handle off the NFP pressure and held below this level.
The EUR is susceptible to dollar moves verses the GBP because of the lack of demand.
With the cross of the stochastic, if the dollar can maintain strength the EUR can look to test the 109920 level; the bottom of the range we defined.
On the other hand, we can expect this to be a pullback too the 110300 handle for a 618 pullback.
All the best,
Aardall