Euro / US-DollarShort
EUR/USD: Lost in the Downward Channel
EUR/USD sinks further below the 1.0300 level, like a small boat drifting aimlessly in a long-term bearish channel. Every attempt to climb back toward the 1.0305 zone—where the EMA 34 and EMA 89 form a "stone wall"—is swiftly rejected. The 4-hour chart paints a bleak picture, with the pair stuck between the resistance at 1.0305 and the critical support at 1.0125.
The USD continues to blow like a strong wind, pushing EUR/USD further down, bolstered by a stellar U.S. jobs report. With a 256,000 increase in Nonfarm Payrolls, the greenback shines brightly, overshadowing the euro. If the 1.0125 support breaks, EUR/USD could plunge deeper, paving the way toward the 1.0100 zone.
The market now resembles a theater stage, where the USD plays the lead role, while EUR/USD is just a supporting actor searching for a way out of the shadows. Will the pair break free from this bleak script, or will it continue to wander in the downward channel? The answer may lie in the upcoming economic developments.
The USD continues to blow like a strong wind, pushing EUR/USD further down, bolstered by a stellar U.S. jobs report. With a 256,000 increase in Nonfarm Payrolls, the greenback shines brightly, overshadowing the euro. If the 1.0125 support breaks, EUR/USD could plunge deeper, paving the way toward the 1.0100 zone.
The market now resembles a theater stage, where the USD plays the lead role, while EUR/USD is just a supporting actor searching for a way out of the shadows. Will the pair break free from this bleak script, or will it continue to wander in the downward channel? The answer may lie in the upcoming economic developments.
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