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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.18842 with take profit at 1.18951.
Bearish Preference:
Sell position is envisaged if price trades below 1.18492 with take profit at 1.18381.
Fundamentals:
No Major Fundamentals
Comment: The USD perched up to a fresh two-month-high on the morning of NFP. But, once the details of the report were incorporated into price action, prices fell back down towards a support spot at prior resistance. This plots around 92.46 and there’s two 23.6% Fibonacci retracements in tight proximity (one from the 2020-2021 sell-off and another from the Q1, 2021 bullish bounce). This couldn’t hold through Friday trade and prices slipped down to another spot of support, plotted around 91.19-92.26.
Analysis: SCRUM Team
