04/06 – EURUSD outlook eyes on 1.13


Technically daily EURUSD outlook eyes on 1.13 level. (5:40GMT)

NEWS THAT CAN HAVE AN IMPACT:

  • USA NONFARM PRODUCTIVITY, UNIT LABOR COSTS (13:30 GMT)

As written yesterday, “if everything boosts EUR/USD up from better-than-expected fundamental points then we can find it in 1.1240 area.” So yesterday, after good retail sales, not bad ECB meeting and not good US ISM indicator, EUR/USD attempted to breach 1.1240 bullish.

Chart 1: Daily EURUSD, EURUSD outlook Chart 1: Daily EURUSD eyes on 1.13 (Click on the image to enlarge)

1.1185 and 1.11 are the most important supports so a bearish violation of 1.1185 will lead down to 1.11 again, while on the contrary if nonfarm productivity and unit labor costs will disappoint then everything will keep boosting up EUR/USD to 1.1355 area.

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Chart 2: H4 EURUSD, EURUSD outlook Chart 2: H4 EURUSD (Click on the image to enlarge)

First support: 1.1185

if breached then ->
-> Second support: 1.11

if breached then ->
-> Third support: 1.1080

If breached then ->
-> Fourth Support: 1.1023

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