The EURUSD traded in a daily range of 112 pips with a high of 1.1121 and a low of 1.1005. It closed below the full Fibonacci retracement level at 1.1095 again on Friday. The U.S. Non-Farm Employment grew by 287,000 in June beating the expectation by a significant amount following the disappointing reading of May but the unemployment rate increased to 4.9%. I am expecting a slightly bearish trend in dollar today on Monday. Today on Monday, the investors are recommended to monitor the following events:
EUR
• Eurogroup Meetings
USD
• FOMC Member George Speaks
Technical Overview:

EURUSD is still maintaining its trading range of 1.1160 – 1.1025 and consolidating below its prior trend channel. The resistance still prevails at 1.1085, 1.1150 and around 1.1185. Further, the pair is likely to find a support at 1.1000 and below that at 1.0960.
Previous Analysis Reference: Trade hits Take Profit @ 1.1045 (8th June, 2016)
Daily Trading Range:
1.1250– 1.0845

Daily Support & Resistance Levels
R3: 1.1175
R2: 1.1130
R1: 1.1102
Pivot Point: 1.1056
S1: 1.1011
S2: 1.0983
S3: 1.0937

Trading Recommendation:
– Sell @ 1.1085
o Take Profit:
 1st @ 1. 1020
o Stop Loss 1.1125

EURUSD 11th July, 2016

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.