Forex technical analysis: EURUSD up and then down as liquidity risk still high

Something for all?

The NFP comes in as expected. The Unemployment rated down to 5.4%. The Earnings still low at 0.1% and revision lower. The two month revision lower for NFP of -39K.

The EURUSD pounded against the 1.1289 ceiling target on the topside The high reached 1.1287.

The price has moved back lower falling back below the low before the number. The 200 hour MA (green line in the chart above - see preview outlining this levels importance) is the next target at the 1.11727 level (being tested). Liquidity conditions are still high. So be aware for choppy action.

Overall, the pair has done a resistance to support lap. The 100 hour MA and 100 day MA remain in between the extreme (blue MA and blue horizontal line at 1.1226 and 1.12394 respectively). The midpoint of the range is 1.1233. I guess look for traders to lean against this area now for resistance. With stops above. If it does not work, take a step back.