EURUSD MIXED AFTER PAYROLLS
The EURUSD pair has opened up the new trading week above the 1.1400 level, after a mixed reaction to Friday's Nonfarm payrolls job report.
The euro initially spiked towards 1.1440, as the NFP jobs report showed the U.S economy created 222,000 jobs in June, but later fell back towards 1.1379, but finished the trading week back above the 1.1400 level, closing at 1.1405.
The EURUSD remains bullish in the long and medium term, but remains short term bearish, whilst trading below the daily pivot point at 1.1407.
Technically the EURUSD pair has created a bearish double top pattern formation on the price charts, with Friday's spike higher to 1.1440 falling short of the current yearly price high, found at 1.1445.
Support for the EURUSD pair is found at the calculated weekly point at 1.1385, which now coincides with the H4 time frame 20 and 50 period moving averages.
Further support is found at the monthly pivot point, at 1.1330.
Intraday EURUSD resistance is located at 1.1410 and the recent swing price high, at 1.1440.