EURUSD Forecast:

The EURUSD was volatile but indecisive yesterday. The bias remains neutral in nearest term but still within a strong technical bullish context. Immediate support remains around 1.3105 area. Break below that area could trigger further downside pressure testing 1.3045/00 region. On the upside we need a consistent move above 1.3200 to continue the bullish scenario testing 1.3260 before targeting 1.3340. We will have US NFP data today. The number is expected to be a good one, forecast around -63K which is about 62K better than the previous (-125K). If the actual number is better than forecast, the pair could continue its bearish correction. On the other hand, if the actual number is worse than expected, price may resume its bullish scenario. But whatever the result, usually market will be very volatile during this data release.

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