EUR/USD: Levels, Ranges, Targets

EUR/USD widest ranges are located from 1.0851 to 1.1101.
For today’s NFP, we’re looking at sell points at 1.1023 just shy of the cluster of resistance points at 1.1031, 1.1036 and 1.1045.
The upside is achieved by breaks higher at 1.0980, 1.0985, 1.0996, 1.1010, 1.1013 and 1.1023.
On the downside, we’re looking for shorts and reverse at 1.0919 and just short of the vital break point to see 1.0851 at 1.0915. To understand 1.0915 in EUR/USD, its translates to above USD/JPY at its vital break point at 113.12.
The downside points are located 1.0967, 1.0959, 1.0947, 1.0933 and 1.0926.
Despite 1.0851 as a daily break point, the main break to see EUR/USD far lower is located at 1.0798 and a point overbought. Until 1.0798 breaks then any downside in EUR/USD is a correction to resolve overbought. Further overbought is seen from MA’s 5 to 200 day.
How prices break furthest and lowest points is a break in NFP at 50,000. The forecast is 185. An NFP at 135 and below, then EUR/USD heads to 1.1045 while 235 or above then 1.0915 will likely break to head near 1.0851. An inside 50,000 range forecast then normal reactions will be seen. 50,000 is the traditional range for NFP and its history dates to multiple decades ago to 1939 when NFP began.

Brian Twomey

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s