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Dear Friends,
The EURUSD had another indecisive movement yesterday. The bias remains neutral in nearest term. Price is still in a short term bullish phase since bounced-off 1.1510 key support but still unable to break above 1.1720 resistance area . The major bearish trend remains valid. A clear break above 1.1720 would be a serious threat to the major bearish trend with a clear break above 1.1850 as confirmation of a new bullish trend. Immediate support is seen around 1.1650. A clear break below that area could trigger further bearish pressure testing 1.1600 region but key support remains at 1.1510 which need to be clearly broken to the downside to resume the major bearish trend. Fundamental focus today will be on the US Non Farm Payroll data.
The EURUSD had another indecisive movement yesterday. The bias remains neutral in nearest term. Price is still in a short term bullish phase since bounced-off 1.1510 key support but still unable to break above 1.1720 resistance area . The major bearish trend remains valid. A clear break above 1.1720 would be a serious threat to the major bearish trend with a clear break above 1.1850 as confirmation of a new bullish trend. Immediate support is seen around 1.1650. A clear break below that area could trigger further bearish pressure testing 1.1600 region but key support remains at 1.1510 which need to be clearly broken to the downside to resume the major bearish trend. Fundamental focus today will be on the US Non Farm Payroll data.
