💶 EUR/USD Continuation of declines?
💶 As you can see from the EUR/USD chart, on Friday it scored a solid downward wave already started on Thursday
💶 After Friday's US unemployment rate data, we saw that unemployment rose by 0.3% to 3.8%, while the market expected unemployment to remain at the current level of 3.5%.
💶 This caused the dollar to react sharply towards appreciation.
💶 So far, the monetary/fundamental situation in the European Union looks much less promising than in the United States, which could result in a further strengthening of the US dollar in the coming week.
💶 At the moment we are at a double bottom, the level was originally defended on 25 August, but looking at the dynamics of the movement and the MACD indicator (no divergence), it seems that there is a higher probability of a continuation of the downward trend.
💶 At the moment I remain bearish on this pair, we will see what the next week brings.
🚀 If you appreciate my work and effort put into this post, I encourage you to leave a like and follow on my profile 🚀
💶 As you can see from the EUR/USD chart, on Friday it scored a solid downward wave already started on Thursday
💶 After Friday's US unemployment rate data, we saw that unemployment rose by 0.3% to 3.8%, while the market expected unemployment to remain at the current level of 3.5%.
💶 This caused the dollar to react sharply towards appreciation.
💶 So far, the monetary/fundamental situation in the European Union looks much less promising than in the United States, which could result in a further strengthening of the US dollar in the coming week.
💶 At the moment we are at a double bottom, the level was originally defended on 25 August, but looking at the dynamics of the movement and the MACD indicator (no divergence), it seems that there is a higher probability of a continuation of the downward trend.
💶 At the moment I remain bearish on this pair, we will see what the next week brings.
🚀 If you appreciate my work and effort put into this post, I encourage you to leave a like and follow on my profile 🚀
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 www.t.me/Investmatez 💲
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