eurusd is forming a bullish flag. At presesnt we are trading near the flag Bodys bottom. Let`s see if we have to adjust the flag at the time-and pricescale. The flags Body can reach till 1.1170 without destroying the flag-pattern. We will try to catch the Breakout. Trading below the flags Body (< 1.1185) will weaken the bullish upwave, but still has a corrective character as Long as we trade above 1.116-1.117 If the flag would be activated with Prices above 1.12063, eurusd could aim the maximal correction Level fibo 61,8 @ 1.12583.
But beware of the nonfarmpayrolls today....please stay flat then! After the News we / the market will decide where to go
trading below 1.1120 is fatal - here i exspect a temporarily shortterm selloff