If you profited from the EURUSD fall from the NFP release last Friday, then there's good more news! If you missed out on the NFP release last Friday, you still have a chance of profiting from the EURUSD bear. There's not much to show on the daily, but the weekly tells a different story.
The weekly story tells a slightly different story. In my earlier analysis, I took notice of an earlier support. After the NFP release, EURUSD broke right through showing no signs of restraint. From this basis, we can determine the next price target. We can expect a temporary correction or pull back before a further continuation. The next price target is set to 1.2120. So far, this zone has been tested once. This looks good as the support strength is still present. Generally, multiple tests should be avoided because buyers will have eventually bought their share at the support price. The pull back has yet to be determined.
