Hey Guys,Hope you enjoyed the weekend.
The previous trade also went well and the market remained bearish before NFP and reached near our target of @ 1.1070 making 40 Pips Profit for us. I hope you guys enjoyed the trade. Feel free to share you feedback in comments and keep following for more Trades.
EURUSD exploded soaring in late trading following a bearish start to conclude near its intraday high at 1.1196, for a gain of 45 pips or 0.41%. The pair traded in a daily range of 101 pips with a high of 1.1205 and a low of 1.1104. The pair closed the day well below the 61.8% Fibonacci retracement level at 1.13 yet again on Friday.
Fundamentally, The Euro had a positive session after Thursday’s decline, despite the initial instability created by the Pound’s volatility. German Industrial Production arrived in better than anticipated at 2.5% on Friday, while the French figure surpassed anticipations with a reading of 2.1%. The adverse surprise in U.S. payrolls also forced the pair higher during the Wall Street session.
Today on Monday, the investors are recommended to monitor the following events:
German Current Account (euros) 06:00
German Trade Balance (euros) 06:00
Euro-Zone Sentix Investor Confidence 08:30
No major releases scheduled
On Monday, the EURUSD is maintaining its slight bullish momentum and it is likely to stay below 1.1225. It likely to continue range bound trend in the market until it breaks next target level of 1.12255 . The Important resistance is still found near 1.1285 while more supply is looming at 1.1350 , and support found at 1.1175 and at 1.1025. We can see in the chart a trend line is here to push the pair back to selling.
Daily Trading Range:
1.1310 – 1.1025
Daily Support & Resistance Levels
Pivot Point: 1.1207
– Sell below @ 1.1225
o Take Profit:
1st @ 1. 1180
o Stop Loss 1.1240