EURUSD Continues To Its Trend Image!
EURUSD has increased because of the FED’s speculative news about interest sale, after the data about Non-Farm Employment, Unemployment Rate and Average Hourly Earnings from the US. Despite of this increase, we do not see any change in short – term negative trend image of EURUSD. The region of 1,1255 – 1,1226 is still important for it.
Today the region of Euro, the data of Service Purchasing Managers Index (PMI) that will come from member countries and the speeches of Harker and Williams, who are members of FOMC are important. EURUSD continues its trend image before these important news.
Main Scenario: IF EURUSD parite continues to remain under the region of 1,1255 – 1,1226, it may resume its negative trend image that it has influence on since 21 March 2019. With this style of thinking, the trend rally can be observed towards support points of 1,1165, 1,1125 and 1,1085. The current bottom point of the negative trend may brings about psychologic 1,1000 level in the movements that are under the level of 1,1085. If it return from level of 1,1085 or somewhere near to it, it may be observed some reactions toward the region of 1,1226.
Alternative Scenario: In order to negative trend image toward EURUSD to end, it is required a 4- hours closening in the region of 1,1226. In the case of trend change, it may be observed a positive image towards barrier of 1,1323 and 1,1360.
Pivot: 1,1255 – 1,1226 regions
Support: 1,1165 – 1,1125 – 1,1085
Resistance: 1,1226 – 1,1255 – 1,1323