EURUSD Technical Overview

It shows that EURUSD is in a strong bearish bias. It has broken some important support areas at 1.2750, 1.2650 and makes a new low. Now the more bearish movement is expected to target 1.2400-20 followed by 1.2330. Before the further bearish movement, some recovery bullish movement is also expected at the beginning of the week. This scenario can be invalid if price breaks and close above at 1.2700 at daily.

EURUSD Fundamental Overview

Last Friday Non-Farm Payroll data shows 248K the expected value was 216K. This higher value than expected indicates more job added in the U.S. economy comparatively last month. In the meantime, the U.S. dollar now reaches a peak of 4 years against other major currency pair. EURUSD reaches the lowest level since August 2012. Additionally, last week on 2nd October ECB President Mario Draghi expressed his opinion as less-hawkish that can make EURUSD go through short-lived up.

There are few high impacts on economic events next week as follows. Traders should be aware to trade EURUSD.
Wednesday, October 8
Currency – USD
Event – FOMC Meeting Minutes

Thursday, October 9
Currency – USD
Event – Unemployment Claims
Currency – EUR
Event – ECB President Draghi Speaks