As we begin a new week in August, the major currency pair is fairly neutral. Most of the time, EUR/USD trade at 1.0180.
The US labor market statistics released last Friday were positive for the USD. For instance, the unemployment rate in July was 3.5 percent instead of the predicted 3.6 percent. The market had anticipated 250K while the nonfarm payrolls reported 528K.
The US FOMC previously said that the labor market was stable and robust on multiple occasions when tightening its monetary policy. If employment in the nation continues to be strong, the regulator won't alter its position. The probability of a rate hike of 50 basis points has already been included into investor expectations ahead of the Fed's upcoming meeting on September 21.
The EUR/USD pair is presently stabilizing near 1.0185 on the H4 chart after breaking the bullish channel downwards at that point. The pair may resume trading upward with an eye toward 1.0222 after maybe continuing the decline down to 1.0077. Technically speaking, the MACD Oscillator, whose signal line is trending at 0, confirms this situation. It might start falling again in the future to update the lows.
The EUR/USD pair is presently stabilizing near 1.0185 on the H4 chart after breaking the bullish channel downwards at that point. The pair may resume trading upward with an eye toward 1.0222 after maybe continuing the decline down to 1.0077. Technically speaking, the MACD Oscillator, whose signal line is trending at 0, confirms this situation It might start falling again in the future to update the lows.
