Yesterday’s ADP has shown us US employment growth of 237K vs 219K expected which led to another drop in EURUSD currency. Due to US Independence Day. NFP is scheduled for today at 12.30 PM (14.30). Good ADP numbers and Greece uncertainty led to USD strenght against its major counterpart EUR.
Technically we can see that EURUSD is consolidating above 1.1050 which serves as interim support. If there is any surprise with NFP results and Unemployment claims EURUSD could jump to 1.1150 and that will put the pair into NEUTRAL territory range 1.1150-1.1230. Only above 1.1250 we can have a trend again and EURUSD above 1.1250 should target 1.1320 and 1.1390 where we can see a CLUSTER of historical sellers.
On the contrary on good NFP results EURUSD might be pulled below 1.1050 targeting 1.1000. Below 1.1000 we can have a trend again targeting 1.0950 and 1.0880.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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