You have probably noticed that I have been bullish in last few EURUSD reports including weekly poll. That’s because EURUSD was giving strong signal that it should go bullish especially on a technical basis.
Technically, the pair has broken from the giant triangle after it was consolidated within the bullish pennant and currently the pennant breakout is playing out suggesting a potential target of 1.1540. Good NFP result may pull down the pair potentially to 1.1365-40 where now moment buyers could be, but if the pair drops to 1.1309-1.1280 it will be held within neutral territory where the break of 1.1290 could signal a deeper retracement towards 1.1220 zone.
Should NFP be strong, I'd expect a strong change in direction on EURUSD because the market is somewhat expecting lower NFP based on its historical record for the month of March + general bullish bias.
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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