EURUSD may begin another downtrend movement from the current zone, as suggested in our earlier chart analysis. The price is expected to retest the support line after a short-term bounce, likely influenced by speculation around the NFP report.
Fundamental Outlook:
Adding to the market’s uncertainty, former President Donald Trump has dismissed Erika McEntarffer, Commissioner of the Bureau of Labour Statistics, accusing her of manipulating job data. This political drama has raised fresh concerns among investors about transparency and credibility in U.S. economic reports.
Moreover, investors are increasingly worried about the broader impact of Trump’s return to influence, which could potentially slow U.S. economic growth.
Technical Analysis:
From a technical perspective, EURUSD has broken below the neckline of a double top pattern, which is a strong bearish confirmation. This breakdown signals a continuation of the downtrend, with downside momentum likely to build if the pair remains below key resistance levels.
You May find more details in the chart.
Ps: Support with like and comments for better analysis Thanks for Supporting.
Fundamental Outlook:
Adding to the market’s uncertainty, former President Donald Trump has dismissed Erika McEntarffer, Commissioner of the Bureau of Labour Statistics, accusing her of manipulating job data. This political drama has raised fresh concerns among investors about transparency and credibility in U.S. economic reports.
Moreover, investors are increasingly worried about the broader impact of Trump’s return to influence, which could potentially slow U.S. economic growth.
Technical Analysis:
From a technical perspective, EURUSD has broken below the neckline of a double top pattern, which is a strong bearish confirmation. This breakdown signals a continuation of the downtrend, with downside momentum likely to build if the pair remains below key resistance levels.
You May find more details in the chart.
Ps: Support with like and comments for better analysis Thanks for Supporting.
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Related publications
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.