There seems to be some good confluence at the price level of 1.1621, where there is a Fibonacci extension
by 127.20%, (rebounding off a 61.8% retracement
). A possible formation of the gartley pattern
is also being shown. Finally some strong resistance at this point making it a great trade to enter. A short will be the most ideal, however, you could decide to go long in order to reach the 127.20% extension which shows a Risk-Reward ratio of 3+.
NFP AWAITING - I believe the movement of EURUSD
, is subject to the NFP and Unemployment rate that will come later in the day at 13:30 GMT