💱 EURUSD - Ahead of NFP. Reversal set-up

2 ביוני 2023

The EURUSD is forming a reversal set-up which may change direction. Everyone involved expects NFP today, analysts expect the dollar to weaken, hence the currency pair may rise in price

TA on the high timeframe:
1) A false breakout of 1.07129 is forming. The price reacts by rebounding.
2) The currency pair overcomes the key liquidity area. The market has the target of 1.08250.

TA on the low timeframe:
1) Head and shoulders form around 1.06800. Strong signal for reversal
2) Consolidation forms above 1.0763, which is quite interesting for buyers.
3) The bulls may break out concerning this support, if the news come out in our favor, we will see an increase to 1.08267 and even to 1.09123 in the nearest future

Key support: 1.0763
Key resistance: 1.0826