EURUSD consolidating in a range bound market as the investors are setting for the very important economic numbers expected at the end of a week. These are the US NFP Employment Change and unemployment rate. EURUSD is yet consolidating beneath 38.2% retracement at 1.0989.

Fundamentals:

EUR:
No Economic Event

US:
Final Manufacturing PMI
ISM Manufacturing PMI
Construction Spending m/m
IBD/TIPP Economic Optimism
ISM Manufacturing Prices

Technicals:

EURUSD is consolidating just below a strong resistance level of 38.2% Fibonacci trading level of 1.0980. As presented in the earlier report, the pair tested the target of 1.0966. Currently, the pair is likely to stay bearish below 1.0980. The significant resistance prevails around 1. 098, whereas, the support prevails at 1.0940 and 1.0863.

Support & Resistance Levels

R3: 1.1077
R2: 1.1027
R1: 1.0995
Pivot Point: 1.0945
S1: 1.0895
S2: 1.0863
S3: 1.0813

Recommendation
Sell Below: 1.0980
Take Profit:
1st @ 1.088
Stop Loss @ 1.1005

EURUSD Chart

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