EUR/USD at the 1.3800 level.

EURUSD has found support at 1.3365 on the back of a bullish RSI divergence, coinciding nicely with a significant miss in US NFPs. This is the most significant bullish correction we have seen in the past couple of months, and the pair has broken out of its July bearish channel. While we are long-term bearish on the pair we see an increased likelihood of a correction here and will look to sneak in an aggressive long if we see a pullback. Below 1.3377 (today’s lows) the bullish correction has ended and we are looking down toward 1.33 once again.
 
It was big day yesterday, price was trading below 1.3440 after big push yesterday, it's still bearish trend but if the price advances above 1.3440, there’s a good chance it may continue up to 1.3475/1.3500 price zone. Next week would be interesting.
 
EURUSD went higher during the course of last Friday, as the nonfarm payroll numbers were worse than expected. The trend has been very bearish lately, so the fact that we ended up bouncing during the day on Friday isn’t that big of a deal, it doesn’t change anything until we clear the 1.3550 region, something that probably isn’t going to happen soon.
 
Eur/usd had a flat day, price did not show any direction today. There are Eurozone Retail Sales tomorrow and ECB Rate Decision on Thursday, interesting week ahead of us.
 
EURUSD initially fell during yesterday with a very tight range forming an inside day and as a result even if we do see some bullish pressure now, it’s going to have a fight on its hands to get above the 1.35 handle.
 
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