PRE NFP Analysis: EUR/USD is Bullish but Watch for The US Data Today

January 05, 2018 11:23

The US NFP and Employment rate today will decide the next move on the EUR/USD. The EUR/USD intra-week trend is bullish, but the NFP along with a standard profit taking on Friday might bring some unexpected moves. Pre NFP movement suggests two possible POC zones 1.2035-50 and 1.2010-20. If the price rejects from these zones, it needs to break 1.2075 to proceed towards 1.2090. The clear break above 1.2090 should open the door to 1.2114, 1.2152 and 1.2178. If the EUR/USD loses 1.2000, we might see 1.1980 and 1.1948. Watch for the US data and profit taking today, but either way, buying the dip is still the way to go on EUR/USD.

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

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