The pair has been range bound for multiple days now, some really strong supply zones where the pair is heavily traded bought/sold. From those supply boxes we can see that there is a real battle between bulls and bears.
Seeing this weeks Euro data, it shows Euro weakness and heavy recession inbound coming to the zone, and although dollar is weak due to banking crisis and BRICS potentially moving away from Dollar... Dollar is still the strongest currency in the world.
Should the NFP surprise to the upside, Euro will plummet down, if NFP comes as expected, you will see knee jerk reactions but nothing of substance 1.11 will not break.
Disappointing NFP will most likely breach the pair past 1.11 today, but I wouldn't put fresh Euro bets for longs next week given the outlook of the German/French economies.
Seeing this weeks Euro data, it shows Euro weakness and heavy recession inbound coming to the zone, and although dollar is weak due to banking crisis and BRICS potentially moving away from Dollar... Dollar is still the strongest currency in the world.
Should the NFP surprise to the upside, Euro will plummet down, if NFP comes as expected, you will see knee jerk reactions but nothing of substance 1.11 will not break.
Disappointing NFP will most likely breach the pair past 1.11 today, but I wouldn't put fresh Euro bets for longs next week given the outlook of the German/French economies.
Trade active:
Trade was activated 1 hour ago, reaching supply zone, and I am partially closing off my positions.
Trade closed: target reached:
Target reached to my supply zones perfect short played