EURUSD fell and broke below the range bottom at 1.1066 as the dollar climbed during NFP which shown very positive employment data.
The price continued to pull back and has reached the range bottom again which may act as good resistance.
EURUSD is currently still trading near the top of an 18-month falling channel and thus the chances of falling is greater.
With the Fed holding off from cutting rate and the recent positive NFP data, the dollar will continue to gain and EURUSD will fall as a result.
Observe for signs of reversal at the current price to sell, stop loss set just above the previous high will be sufficient.
The price continued to pull back and has reached the range bottom again which may act as good resistance.
EURUSD is currently still trading near the top of an 18-month falling channel and thus the chances of falling is greater.
With the Fed holding off from cutting rate and the recent positive NFP data, the dollar will continue to gain and EURUSD will fall as a result.
Observe for signs of reversal at the current price to sell, stop loss set just above the previous high will be sufficient.
