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Technicals Suggest Bearish EUR/USD

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Traders, while it is anyone's guess what the NFP data will look like tomorrow and more importantly how the market will react, there are two things worth noting. The Dollar Index (DXC) remains in a sideways chopfest as noted this AM. However, regardless of ones read technically, we are testing the lower end of the range and thus some favor is tilted towards the bullish view. I take it a step further and see a likely bottom from an Elliott Wave perspective. If correct, that drives EUR/USD lower.

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