The FX calendar is very busy today, with the most important ECB Rates decision at 11:45GMT and 12:30 Press Conference, and at the same time it’s also the NFP report. So, we believe the market could move strongly today, but it also can be unidirectional. Be aware of spikes and sharp reversals, so make sure to trade small with stops in place!
Technically speaking we see EURUSD in a downward retracement from 1.3700 that looks like a correction because of overlapping swings, so I would not be surprised to see a bullish reaction with a retest of 1.3700 if 1.3680 gives way. However, I am not betting on this, I am staying the side as news like today can be a big gamble.
EURUSD 30min Elliott Wave Analysis
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