EURUSD Daily Forecast

Finally, the EURUSD had significant movement yesterday. The pair broke above 1.4176 key level, topped at 1.4198 but closed lower at 1.4140. Technically the fact that 1.4176 was broken to the upside should setting up bullish scenario targeting 1.4336. However we need to be very patient since we will have NFP data today. If after NFP release the pair still able to maintain the bullish condition and stay above 1.4176, expect further bullish scenario.  Immediate support is seen at 1.4050 – 1.4000 area. Break below that area should lead for further bearish pressure. CCI in overbought area and heading down on h4 chart suggesting potential downside consolidation.