EUR/USD
Weekly Chart.
It's interesting to note that today EUR hits the 55 Moving Average together with the upper Bollinger Band in the Weekly chart. Today is also NFP day. So there might be wild movements. But there are no signs of exhaustion for EUR. In contrast, the USD is suffering from broad-based welling all across.
Although technically, in the weekly chart 1.0565 range should offer resistance to EUR, it will be too early considering the sentiment that persists in the market.
So it would be wise to book profit and do scaling and wait for the chart to mature before placing aggressive short bets.
Disclaimer- Not financial advice.
EUR/USD
Dt- 05th Dec 2022
After NFP, EUR/USD initial reaction was down but then it rallied to print a fresh high and went as high as close to 1.0600, since then it is consolidating.
Since we are very close to the holiday season, the market will try to consolidate from here. Another point that will support this thesis is that RSI is close to 70, so we might see some sideways movement. So scalping should be the ideal strategy.
The major support is around 1.0351.
Disclaimer- Not financial advice.
EUR/USD
Dt- 7th Dec 2022
EUR/USD has bounced off the support level of 1.0440, on the upside the resistance is 106 followed by 1.0660, but due to the absence of any major data until Friday, it is likely to be range bound.
The major currency pairs may find directions after the release of the US PPI figures on Friday and that is slated to be the market mover of this week.
Disclaimer- Not financial advice.