Forex FOREX PRO WEEKLY, June 28 - 02, 2021

Sive Morten

Special Consultant to the FPA
Messages
15,061
Morning guys,
So, we need to make just last step this week and get NFP numbers. As ADP was pretty nice around 700K, chances are strong that we've got the same performance from NFP as well. As we've said previously, technical picture confirms this as well and we keep an eye on 1.16 area in perspective of a week, and completion of AB-CD target here:
eur_d_02_07_21.png


This week market accurately has completed retracements that we've discussed, entry plan on short entry has worked nice as well. Here, on 4H chart I still keep short-term targets, minor extensions, for the case if somebody wants out before NFP data.
eur_4h_02_07_21.png


Our pullback yesterday also is done accurately, right to K-resistance area, where was another chance to sell. Right now, we could move stops just above this K-area. Because in a case of poor NFP market breaks it up definitely, but we do not want to turn to risk trade and would like to keep it at least at breakeven.
So, let's keep watching for numbers. Technical signs suggest that data should be positive.
eur_1h_02_07_21.png
 
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