EURUSD – Euro Hammers USD Post NFP Number
After the belated NFP came out, the USD got hammered across the board and the Euro took no prisoners. Taking out the the key 1.37 barrier and former yearly high, there was an intraday breakout formation and the pair has only climbed and consolidated since. Looking at the 1hr chart below, we can see the pair is holding a bullish flag formation tightly at the top, suggesting little profit taking and counter-trend players. Upside resistance levels are 1.3835 & 1.3972.
I’ll consider a potential breakout, but would rather buy on a pullback close to 1.37 before getting long. So watch the intraday charts closely during early London for clues. If the pressure …... Keep reading