EURO BULLS LOOKING TO BREAK 1.1900
The EURUSD pair is holding support close to the 1.1880 level, as traders await the release of the United States Nonfarm Payrolls July job report.
A worse than expected NFP jobs report today, may see EURUSD buyers attempt to push price towards the all-important 1.2000 level. The euro has not traded above the 1.2000 level since January 2nd, 2015.
The main upside hurdle for the EURUSD pair remains the monthly time frame, 50 period moving average, at 1.1900. Once clearly trading above this level, the EURUSD finds further resistance from the January 5th, 2015 price high, at 1.1975.
Above this level the pair should start to target the price gap on the charts at 1.1998, and the key 1.2000 level.
Looking at the EURUSD downside, once below the 1.1870 region, the pair should start to target the 1.1857 and 1.1830 levels.
Once clearly below 1.1830 level, downside losses towards the 1.1793 level and the H1 time frame, 200 period moving average, at 1.1759, look likely.