With the current trade war tension between the US and China, I believe the market is currently undecided in which direction it would to go and is waiting for a confirmation from today's NFP report. If the NFP report is not in favour of the US we could see potential upside for the EUR and all other USDXXX pairs.
My Technical analysis suggest that this pair has reached a monthly supply/demand zone (support/resistance) and are currently testing this area again.
On the 4 hour chart we have formed a ascending triangle which suggests price could break out to the upside, forming high highs and higher lows.
Any feedback on my analysis is greatly appreciated and I do not recommend anyone take my trade until the news has released.
My Technical analysis suggest that this pair has reached a monthly supply/demand zone (support/resistance) and are currently testing this area again.
On the 4 hour chart we have formed a ascending triangle which suggests price could break out to the upside, forming high highs and higher lows.
Any feedback on my analysis is greatly appreciated and I do not recommend anyone take my trade until the news has released.