EURUSD Selling Pressure NFP Week Ahead
1.17200 Resistance worked well. This was the first target of the I SHS Pattern which we have published last week. This attempt appears to be a false breakout of the triangle in the midterm charts.
After the break below of the triangle, pair tested 1.15800 as we published. You can view the idea here.
We will have a quite “data busy” week. U.S. “Non-Farm Payrolls” and Unemployment Rates will be released on Friday.
Technically, the pair closed below EMA 50 and ended the week at 1.16000.
We might see a correction towards 1.16200 – 1.16570 region.
Shorter term bearish pressure will remain as long as the pair holds below 1.16570. If it breaks above 1.16570, 1.16880 and 1.17200 will be the next targets.
If the pair fails to break above 1.16570, 1.15700 and 1.15100 will be tested.
Longer Term Oveview: Eurozone macro economic figures and fundamentals are not supporting the stronger Euro. The rise of the EURUSD might be used as selling opportunities only.
Intraday trade opportunities will be published for the members.
Subscribe to our services free of charge
Subscribe to our premium packages if you would like to get 1000+ instruments analysis and trade signals of Chartreadreadepro.
If you find our content useful, you can donate via PayPal.
Rules To Keep In Your Mind: Trade Safe. Money Management is the key to success in forex trading. Do not risk more than 1% of your account in each trade.
You can contact us via Skype User Name: Chartreaderpro
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
EURUSD Overview: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility