EURUSD – UpDaily chart:the pair is in flat corridor 1.0565-1.0664 yet. However, today the situation is likely to change – Non-Farm Payrolls, ladies and gentlemen. It’ll be crazy and fun. If consider any technique, we can see that there would be shifts around lower Bollinger envelope (1.0389-1.0757). If we also assume that downtrend will continue, one need to sell around 1.0757 when price shoots towards 1.0400. 350 pips is acceptable shift for such a day. Н4: Bollinger bands in this frame are not aware of coming storm, they keep holding price around 1.0565-1.0664. However, we know that the storm is really coming, so this corridor will soon change. Н1: there is a local bullish potential, which corresponds to the expectation of price shift towards 1.0757. Interim resistance is around 1.0685 Expectations: Let’s discuss today scenario in terms of technical analysis leaving aside news release (especially such unpredictable as NFP). I personally would wait for price shift towards 1.0686 and 1.0757, after what the pair would start to drop in direction of 1.0400. Such alternative as direct drop without upward shift is also possible. Solutions: seek for downward entry points around 1.0656 or 1.0757 after data release. The current goal is 1.0400.
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