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EUR/USD is Targeting 1.0980-60 on a Break Below 1.1015.

Nenad Kerkez

Dear Traders,

The EUR/USD ticked higher on the NFP Friday and Monday despite the solid US Unemployment result.

My opinion is that the US Unemployment data was solid. NFP missed the forecast but nevertheless it is still a good number (130k). Wagers ticked higher and the US is at full employment. Technically, the EUR/USD should stay capped below 1.1083 and target 1.1015. Below, we should see a retest of 1.0960 and 1.0980. Thursday will be the most important day for the EUR as the ECB will be deciding about the rate and will release a monetary policy statement.

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

This article was originally posted on FX Empire

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