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4 May 2015
EUR/USD might encounter a massive sell-off post US NFP results – Vladimir Mihaylov
FXStreet (Barcelona) - Independent Analyst, Vladimir Mihaylov, sees downside potential for EUR/USD towards 1.0650-1.0700 if Friday’s US NFP matches consensus expectations.
Key Quotes
“EUR has broken the negative daily cloud as expected however staying far from the negative cloud will be hard, and staying above it will be even harder. We have been below this cloud for almost 10 months.”
“Weekly, H4 and H1 indicators are mixed to bullish, only Daily ones show possible downside move ahead.”
“The pair is now supported by 1.1130 and the resistances are 1.1240 and 1.1290, finally 1.1400. If the current support is broken, the pair will look for support in the area 1.0950-1.1000.”
“It is quite possible the EUR upside to continue for the next 2-3 days and then will be followed by a massive sell. The reason for this may be used the almost doubled NFP expectation on Friday. If the expecations are true we may even return below the negative cloud again, somewhere around 1.0650-1.0700. So be careful with long positions and do not allow more than 40 pips against you.”
Key Quotes
“EUR has broken the negative daily cloud as expected however staying far from the negative cloud will be hard, and staying above it will be even harder. We have been below this cloud for almost 10 months.”
“Weekly, H4 and H1 indicators are mixed to bullish, only Daily ones show possible downside move ahead.”
“The pair is now supported by 1.1130 and the resistances are 1.1240 and 1.1290, finally 1.1400. If the current support is broken, the pair will look for support in the area 1.0950-1.1000.”
“It is quite possible the EUR upside to continue for the next 2-3 days and then will be followed by a massive sell. The reason for this may be used the almost doubled NFP expectation on Friday. If the expecations are true we may even return below the negative cloud again, somewhere around 1.0650-1.0700. So be careful with long positions and do not allow more than 40 pips against you.”