EUR / USD rose amid an unexpected market reaction over the US NFP report. Then, the recent statements of Fed Chairman Jerome Powell strengthened further the bullish trend in the pair.
Today, movement will depend on the upcoming report on US inflation, as that would decide whether the Fed will take further steps in monetary policy. At the moment, sellers are in the most vulnerable position, so it is best for them to limit their losses near the yearly high at 1.13870. Short positions should be taken only after a false breakout of 1.13870, while long positions can be closed at the same level.
All these are based on the framework of price action and stop hunting strategies.
Good luck and have a nice day!
