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 Bears have been dominant on eur/usd since mid October , , However , there is a new bullish trendline is in formation since mid November after finding the low at 1.1210$. Those who have been trading euro for the last 3 years , will definitely recall that famous resistance and support area in early 1.12$ and it has proven its reliability once again. Euro rallied on friday after Non farm payroll report which missed the forecasts while unemployment cam flat at 3.7% , However , the bearish trendline stood still against this rally and euro gave back those pips to fall again to 1.1390$ from 1.1425$ . Euro may find support again at 1.1330$ area where it may meet the red bullish trendline . On the upside , breaking the bearish trendline will open space for retesting 1.1520$ again. I recommend going long again from 1.1375$ area .

Euro is still trading in range between 1.1330$ and 1.1410$ areas, the pair rallied to 1.1410$ after Non farm payroll came less than forecast figures, unemployment data came flat. Euro still trading in range , sell the high and buy the low of the range and your stop loss should be 20 pips plus. however , Main direction for the euro is bullish and expected to visit 1.17$ in medium term.

Non farm payroll report will be released today at 12:30 GMT. Among , the data which will be released is the unemployment rate. The data is very critical for the direction of the USD for the coming period. My technical analysis for GBPUSD , EURUSD says the data will not be in favor for the USD. IT says the market will be terribly bearish for the USD and we might see a huge rally in eur/usd today and next week , possibly targeting 1.20 level again. Keep following for updates and lets see where the markets are going. follow me on twitter for fast updates on the markets and keep checking the blog for trading recommendations. Trading recommendations will be published shortly after the release of the data. My twitter handle is :@b4borio

Eur/usd found some support after NFP payroll release which gave some strength to the US dollar . The support came at 1.2435$ where 61.8% fibonnaci level for the move from 1.2385$ to 1.2520$ . The pair bounced slightly to 1.2456$ at the time of writing , most probably it is a dead cat bounce and we will continue to fall sharply towards 1.2260$ area.

EUR/USD is currently between resistance at 1.2510$ and support at 1.2485$ . A break below 1.2485$ will open the road to real support at 1.2465$ which is 38% fibonnnaci retracment level while a break above 1.2510$ will clear the way for new highs this probably between 1.2580-1.2625$ area. Keep your eye on those levels and I prefer going short at the moment with exit if we close above 1.2510$

Eur/usd rallied after making triple bottom at 1.2385$ , however rally stalled at 1.2520$..The pair is currently retracing and make or break level would be 1.2465$ , if the pair finds support there , then we might break 1.2520$ , if we break below that support then we will fall to 1.23$ , and final support would be 1.2260$ ....just keep in mind that we will have NFP report released tomorrow.

If eur/usd managed to close this week above 1.1240$ then we will see it at 1.1450 within few days.Eur/usd is still bullish on the daily chart and there is no sign of pause for the rally at the moment. After soft jobs data for united states today , euro and gold are rallying and breaking strong resistance areas. Both may keep the bullish rally if this week closed at current trading areas 1.1280$ and 1276$ I will be updating after markets close. However currently I am on short side for euro unless we close this week above 1.1240$ ....

Aussie has been playing the role of the tough guy for a while now , ignoring RBA rate cut and advancing more than 150 pips then . AUD/USD also ignored the surprising and better than expected non farm payroll "NFP" report , US economy added 255k jobs VS 180k expected. The US dollar rose against all majors including the australlian dollar , however audusd erased all losses and back to square one before the RBA and NFP. The pair is facing tough resistance at the area of 0.7675 area , where it fell many times from that area , if conquered , we might see 0.7720 which is last defence line against recent highs at 0.7840 area. The pair is not supposed to go there and even if , it will be very good area to short the pair at targeting 0.73$ area as first support , if broken , we will see prices not seen in almost a year , and the pair will be trading between 0.6980 to 0.7180 before resuming its fall. I prefer that scenario and I am on the short side Feel free to join me on t...