Our take on the EUR ahead of NFP...

FX:EURUSD   Euro Fx/U.S. Dollar
394 2 14
Bolstered by a relatively weak dollar yesterday, the EUR bulls took charge going into the U.S. session and rallied through H4 supply at 1.0903-1.0928 into a H4 resistance area at 1.0937-1.0984. For anyone still long from the H4 Quasimodo zone at 1.0809-1.0826, now may be a good time to think about banking the majority of your position since the single currency could take a more southerly approach today. Not only is price sitting within a H4 resistance area right now, but there’s also a daily resistance level at 1.0955 currently in play, supported by a weekly resistance at 1.0983 lurking within the upper limit of the aforementioned H4 area.

Therefore, from a technical standpoint, we’re expecting a move lower, but, at the same time, are also prepared for a fakeout above to the large figure 1.1000 before this happens. Personally, we’d prefer to wait for the fakeout to occur before trading this pair, since this increases risk/reward dramatically down to target one (H4 demand at 1.0903-1.0928) and also due to the volatile NFP taking center stage later on today!

Thank you sir, your analysis are very good and I always look forward to them.
You're very welcome, glad you find it useful.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out