Fasten Your Seat Belts! It May Be A Turbulent Day For Euro! The US Labour Market Data Shocked, This Week We Meet Inflation Figures! Euro To US Dollar Forecast| FXMAG.COM

Relevance up to 04:00 2022-08-09 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

The euro fell by 60 points on Friday due to good data on employment in the US. The lower shadow of the daily candle touched the target support at 1.0150. In the non-agricultural sector, 528,000 new jobs were created in July. This morning the price approached the support at 1.0150 again and shows the intention to overcome it.

If this plan succeeds, then the price will open the way to the target bearish level of 1.0020. This is our main scenario. The signal line of the Marlin Oscillator is also close to overcoming the zero neutral line and moving into the downward trend zone.

The main plan may be disrupted by the price's exit above Friday's high at 1.0252, which will also correspond to overcoming the resistance of the MACD indicator line on a daily scale. In this case, the target would be 1.0360 (15 June low).

On the four-hour chart, the price develops under both indicator lines - balance and MACD. The Marlin Oscillator is in a downward position. We are waiting for the price to leave the area below 1.0150 and settle under the level.

If the situation develops according to an alternative scenario, the price moving above the MACD line (1.0220) will not be enough to develop movement to 1.0360, such a transition above the indicator line may turn out to be false. The working signal will be overcoming the MACD line of the daily scale, which is near Friday's high at 1.0252.

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