EUR/USD: PRICE ANALYSIS | NEWS+SHORT SCENARIO ANALYSIS | SHORTđź””
EUR/USD Price Analysis: Bulls move in on a critical H4 resistance.
EUR/USD bulls run into the bear's lair, but a break of resistance will be highly positive.
The bears will need to break the prior layer of H4 support.
EUR/USD was bid on the day as the greenback against six major currencies, was falling like a stone to 107.74 and lowing around 0.8% on the day, on pace to snap a two-day streak of gains. The dollar found no support from data showing US private payrolls increased far less than expected in May ahead of today's Nonfarm Payrolls. This leaves the technical outlook for the euro leaning bullish on a break of current resistance, but the bears could be lurking and the following illustrates both sides of the equation.
EUR/USD bulls run into the bear's lair, but a break of resistance will be highly positive.
The bears will need to break the prior layer of H4 support.
EUR/USD was bid on the day as the greenback against six major currencies, was falling like a stone to 107.74 and lowing around 0.8% on the day, on pace to snap a two-day streak of gains. The dollar found no support from data showing US private payrolls increased far less than expected in May ahead of today's Nonfarm Payrolls. This leaves the technical outlook for the euro leaning bullish on a break of current resistance, but the bears could be lurking and the following illustrates both sides of the equation.
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