EUR/USD update

EURUSD D1 (04-01-2016 0039).png

Euro’s anticipated bullish move appears to have run out of steam near 1.1418. Given the four day winning streak, a short-term loss of momentum may see prices consolidate in range of 1.1376 – 1.1418 ahead of payrolls.

A weaker wage growth number wud be enough to send EUR abv 1.148 and twd hurdles at 1.1460-1.15 levels.

Conversely, strong wage growth figures cud push spot below 1.1346 indicating short-term top is in place abv 1.14. Still overall bullish invalidation is seen only below rising trend line support

 

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