08/06 – EURUSD outlook eyes on 1.1064


Technically daily/weekly EURUSD outlook eyes on 1.1064 level. (5:42GMT)

As I wrote on Friday, “In case of significantly good data today from the USA we can see EUR/USD down between 1.11 and 1.10” and our Fourth support was 1.1064 level. On Friday EUR/USD hit 1.1049 low on NONFARM PAYROLL RELEASE.

Chart 1: Daily EURUSD, EURUSD outlook Chart 1: Daily EURUSD eyes on 1.1064 (Click on the image to enlarge)

Friday was NONFARM PAYROLL day. The U.S. most important news of the month. The U.S. Bureau of Labor Statistics reported that Total nonfarm payroll employment increased by 280,000 in May, and the unemployment rate was essentially unchanged at 5.5 percent. Now, the Forex and Bank World is speculating on the next FOMC (June the 17th), when Federal Reserve is expected to take a clear position on the interest rates matter.

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

My weekly S/R setup is the following:

First resistance: 1.1185

if breakout then ->
-> Second resistance: 1.1240 (February’s grey lows area)

First support: 1.1064

if breakout then ->
-> Second support: 1.1023

if breakout then ->
-> Third support: 1.094

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