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The bears continue to remain possessive in the Eur/usd as weekly bias still remains on the downside as Stochastic, RSI, MACD and Moving Averages is still showing a sign of bearish continuation on the 4hours time-frame. However the daily time-frame shows that the bearish trend is not fully confirmed but indicates a sign of reversal is on the corner.

 

A break of support 1.37043 will push price further down to demand zone 1.35659 (78.4 Fibonacci retracement   of price 1.34761 to 1.39651). However a break of 1.38739 resistance could resume the bullish trend and see price rise to 1.39651 demand zone a break of 1.39651 would see price to 1.41000 psychological zones.

 

Key economic indicators to watch out this week are the ECB Press Conference and the Non-Farm Employment Change/ Unemployment Rate.

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