EURUSD LONG/ BUY
🔰 Pair Name : EUR/USD
🔰 Time Frame : 1H/4H
🔰 Scale Type : MID Scale
🔰 Direction : LONG/BUY
📈💼 FUNDAMENTAL POINT OF VIEW: 📉💵 A mixed bag of US jobs data released on Friday 📊🇺🇸 points to limited upside in the US dollar ahead of key US inflation data due on Wednesday. 😐💹 The greenback fell sharply, almost erasing all of the week's gains after a not-so-bearish jobs report. Non-farm payrolls increased less than expected 👎📉, but the unemployment rate fell, and average hourly earnings came in higher than expected 👍📈. The demand for jobs is slowing, but the labor market remains tight for now. ⏳🛠️
The market's response to this mixed data has been similar to recent trends. Below-expected data has had an outsized impact on USD 📉📉, while upbeat data has failed to leave a lasting impression. 🤔💡 Despite the US Economic Surprise Index being at its highest since early 2021, the DXY Index (US dollar index) is around its year-to-date lows. 📊💱
EUR/USD is still within the uptrend change, and the broader bias remains upward due to higher-highs-higher-lows pattern since late 2022. 📈🔄 Lately, the pair has been hovering in an upward-sloping channel since March. However, the consolidation could extend a bit further in the near term. ⏳🔄
📊💹 Technical point of view: 📉💹 EURUSD PRICE HAS REACHED FIB LEVEL 50% 📈📊. We expect the price to retest fib level 23.6% and the consolidation range box below, and then head up again to refill the market imbalance and collect the buying liquidity above. 📈📊💹
🔰 Time Frame : 1H/4H
🔰 Scale Type : MID Scale
🔰 Direction : LONG/BUY
📈💼 FUNDAMENTAL POINT OF VIEW: 📉💵 A mixed bag of US jobs data released on Friday 📊🇺🇸 points to limited upside in the US dollar ahead of key US inflation data due on Wednesday. 😐💹 The greenback fell sharply, almost erasing all of the week's gains after a not-so-bearish jobs report. Non-farm payrolls increased less than expected 👎📉, but the unemployment rate fell, and average hourly earnings came in higher than expected 👍📈. The demand for jobs is slowing, but the labor market remains tight for now. ⏳🛠️
The market's response to this mixed data has been similar to recent trends. Below-expected data has had an outsized impact on USD 📉📉, while upbeat data has failed to leave a lasting impression. 🤔💡 Despite the US Economic Surprise Index being at its highest since early 2021, the DXY Index (US dollar index) is around its year-to-date lows. 📊💱
EUR/USD is still within the uptrend change, and the broader bias remains upward due to higher-highs-higher-lows pattern since late 2022. 📈🔄 Lately, the pair has been hovering in an upward-sloping channel since March. However, the consolidation could extend a bit further in the near term. ⏳🔄
📊💹 Technical point of view: 📉💹 EURUSD PRICE HAS REACHED FIB LEVEL 50% 📈📊. We expect the price to retest fib level 23.6% and the consolidation range box below, and then head up again to refill the market imbalance and collect the buying liquidity above. 📈📊💹
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