Wait for NFP and…
06 November 2015, EUR/USD
Daily chart: the bottom Bollinger band (1.0758) looks not finished that is a technical target today. But there are supposed to be other non-technical targets today, connected with the data NFP
H4: the intermediate support at 1.0813 (the bottom Bollinger band). Any northern variants will be possible only after the price is above 1.1026 (the upper band). Technically, there are no preconditions for this, but .... We remember about today’s "but".
H1: markets are already preparing for a significantly non-forms — horizontal corridor 1.0862-1.0892 is busy, going beyond that will determine, it seems, the fate of the euro today.
Scenarios: The main scenario: breakthrough under 1.0862 and decline to 1.0758 An alternative scenario: breakthrough above 1.0921 and growth to 1.1026. Trading solutions: 1) It is better not to risk today. But risky traders may try to take the usual news pulse NFP by one of the directions indicated in the scenarios.
Aleksey PanasenkoAnalyst of «FreshForex» company
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