🔔🔔🔔EUR/USD news:
👉The EUR/USD pair began the week on a positive trajectory, trading around 1.0860 during Monday’s Asian session. This upward movement is primarily driven by growing concerns over a potential slowdown in the US economy. On Sunday, San Francisco Fed President Mary Daly noted that increasing uncertainty among businesses could weaken demand in the US economy, though she does not see this as a reason to adjust interest rates.
👉On Friday, data from the US Bureau of Labor Statistics (BLS) revealed that Nonfarm Payrolls (NFP) rose by 151,000 in February, missing the forecasted 160,000. Additionally, January’s job growth was revised down to 125,000 from the initially reported 143,000. The weaker-than-expected labor market data may put pressure on the US Dollar (USD), offering support to the EUR/USD pair.
Personal opinion:
👉In the long term, the momentum for EUR/USD is still bullish. However, technically in most time frames, RSI signals that EUR/USD is entering the overbought zone and showing signs of divergence. This signals a short-term correction
Resistance zone: 1.0885 1.0936
Support zone: 1.0770 1.0720
Analysis:
👉Based on important resistance - support levels combined with standard pivot points to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy EUR/USD 1.0770 - 1.0760
❌SL: 1.0730 | ✅TP: 1.0830 – 1.0880 – 1.0930
FM wishes you a successful trading day 💰💰💰
👉The EUR/USD pair began the week on a positive trajectory, trading around 1.0860 during Monday’s Asian session. This upward movement is primarily driven by growing concerns over a potential slowdown in the US economy. On Sunday, San Francisco Fed President Mary Daly noted that increasing uncertainty among businesses could weaken demand in the US economy, though she does not see this as a reason to adjust interest rates.
👉On Friday, data from the US Bureau of Labor Statistics (BLS) revealed that Nonfarm Payrolls (NFP) rose by 151,000 in February, missing the forecasted 160,000. Additionally, January’s job growth was revised down to 125,000 from the initially reported 143,000. The weaker-than-expected labor market data may put pressure on the US Dollar (USD), offering support to the EUR/USD pair.
Personal opinion:
👉In the long term, the momentum for EUR/USD is still bullish. However, technically in most time frames, RSI signals that EUR/USD is entering the overbought zone and showing signs of divergence. This signals a short-term correction
Resistance zone: 1.0885 1.0936
Support zone: 1.0770 1.0720
Analysis:
👉Based on important resistance - support levels combined with standard pivot points to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy EUR/USD 1.0770 - 1.0760
❌SL: 1.0730 | ✅TP: 1.0830 – 1.0880 – 1.0930
FM wishes you a successful trading day 💰💰💰
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Disclaimer
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✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.