Failed bullish development: The EUR/USD failed to extend the risk-on reaction following the NFP on Friday (10/5). Instead, it started this week falling back under 1.30 and has cracked the 1.2950 handle ahead of the 10/8 US session. The 4H chart shows the price action breaking below some support factors like a projected rising support, and the previous resistance area to be tested as support near in the 1.2960-1.2975 area. Bearish outlook: The bullish scenario is now unclear and a short-term bearish scenario is at hand. If the market can hold under the 1.30 handle this time, the focus is on the 1.2880 support pivot ... (full story)