Ahead of Jobs day, will the EURUSD continue its slide?(DAILY)
The parity broke its EMA 20 showing another signal that the trend is still bearish, unless some technical correction occurs.
The daily Pivot Point is around 1.11501, and the 3 days PP is around 1.1242. The parity opened at 1.11209 below its daily PP, which suggest a bearish market ahead today, with 1.1058 and 1.0994 as supports. The parity will have 1.12141 as its 1st resistance and 1.1302 as its second resistance. The latter two levels will be tested if any technical correction was meant to happen.
On the short run, I think that 1.0994 is a suitable objective with 1.1058 as a primary objective. But I would also be very aware of the US job report today, since it is job's day.
Currently the Orange and the blue trendlines suggest the existence of a triangle, and today's close below the orange line suggest that the parity is giving signals of a slide towards at least 1.0994, unless today an inversion doji is formed.
The blue resistance and the orange support represent the area in which the parity will be active today.
The daily Pivot Point is around 1.11501, and the 3 days PP is around 1.1242. The parity opened at 1.11209 below its daily PP, which suggest a bearish market ahead today, with 1.1058 and 1.0994 as supports. The parity will have 1.12141 as its 1st resistance and 1.1302 as its second resistance. The latter two levels will be tested if any technical correction was meant to happen.
On the short run, I think that 1.0994 is a suitable objective with 1.1058 as a primary objective. But I would also be very aware of the US job report today, since it is job's day.
Currently the Orange and the blue trendlines suggest the existence of a triangle, and today's close below the orange line suggest that the parity is giving signals of a slide towards at least 1.0994, unless today an inversion doji is formed.
The blue resistance and the orange support represent the area in which the parity will be active today.
