Notes:The EURUSD made a break of the weekly opening range high at 1.0992 with the breach taking out a median-line (ML) dating back to the April highs before completing a full 1.618% extension off the lows into 1.1189. Near-term resistance extends into the 1.1218 (bearish invalidation) with a breach above targeting the ML extending off yearly lows & 1.1313/23.
Interim support rests at 1.1130 with our near-term bullish invalidation level set at the highlighted region into 1.1065. A break below this mark shifts the focus back to the short-side targeting 1.0993 & the weekly lows / MLP support.
Bottom line: looking to buy pullbacks / resistance triggers while above 1.1065 with a breach above 1.1218 targeting subsequent resistance objectives. Look for more volatility heading into the close of the week with the ECB interest rate decision & U.S. Non-Farm Payrolls highlighting the economic docket.
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