EURUSD BULLS IN CONTROL ABOVE KEY TRENDLINE
The euro is likely to see further buying interest against the U.S dollar while trading above the pairs key monthly trendline, found at the 1.2470 region. The EURUSD retains a strong bullish bias heading into today’s Nonfarm Payrolls Job Report, with buyers looking towards the multi-year price-high set last month at the 1.2538 level. Looking to the downside, only a higher-time-frame price-close below the 1.2385 level can negate the pairs medium-term bullish outlook.
The EURUSD pair retains a strong bullish above the 1.2470 level, further upside towards 1.2538, 1.2600 and 1.2640 appears possible.
Should the EURUSD pair fall move below the 1.2432 level today, sellers will likely try to test towards the key 1.2385 support level.