💶 EUR/USD Continuation of declines? 💶

💶 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 yesterday'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.

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