EUR/USD and GBP/USD Forecast April 6, 2018

The EUR/USD pair fell during training on Thursday, crashing into the uptrend line just below. The uptrend line of course defines part of the uptrend itself, so the fact that it held during the session on Thursday is a good sign. I think that we will of course await the jobs number to figure out where to go next, but eventually we should see some type of conviction. I believe that if we bounce from here, the market should continue to go towards the 1.23 level, followed by the 1.24 handle, and then of course the 1.25 level after that. That is the “ceiling” of the market, and I think that a break above there should continue to send this market towards the 1.32 handle above, based upon breaking out of the top of a bullish flag. The alternate scenario of course is that we break down below the uptrend line, slicing below the 1.22 handle. If that happens, the market more than likely goes down to the 1.21 level. for more analysis: http://www.dailyforex.com