EUR/USD: MAJOR MAJOR MAJOR Week in store for this pair!
Last week we saw another bearish push back to the downside helping price reach the all important weekly support level of 1.1110. This level has previous managed to support price on the weekly and daily chart from creating new lows which have not been seen since May 2017!
On a huge week in the market for fundamentals with the FOMC meeting tomorrow evening at 7 pm (UK TIME) and Non Farm Payroll, the biggest data release each month from the US due on Friday, all eye’s are are on the current support level under pressure and looking very vulnerable.
Should we see a break below 1.1110 the doors are open for this pair for a fast decline where the bears will be targeting 1.1000.
However should support prove too strong once again , we may see a reversal and price start to claw back some lost ground in recent weeks.
All eyes on USD, can we continue this bullish run?..…….