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Strifor || EURUSD-Week Starting

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Preferred direction: BUY
Comment: Despite Friday's strong labor market data, the US dollar retains sell-priority, which means buy-priority for most of the American currency's main competitors. The euro is at the top of this list to buy against the US dollar.

Here, for most of this week, we highlight two scenarios, and the more likely scenario №1 assumes an increase to the maximum from current prices. The growth target is located at the level of 1.09000, where we also set the target for scenario №2, which involves buying from the support area of 1.08000. Most likely, updating the previous week’s high is the key task of buyers, after which there is a high probability of the start of a deeper corrective local movement towards the level of 1.08000 and below.

Additional comments on this trade will be provided as situation changes. Follow us!

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