Daily Analysis EURUSD - 4 Sep 2023
The euro is striving to recover the 1.08 level after being influenced by the latest US jobs data. Initial fluctuations in the forex market occurred on Friday as the US unemployment rate rose, weakening the US dollar. However, a subsequent announcement of better-than-expected job numbers caused a rapid 100 basis point drop in the exchange rate
The overall market outlook remains stable, with the exchange rate fluctuating between 1.0750 and 1.0950. Although sentiment is somewhat against the euro, it retains its core characteristics.
Today's highlight is President Christine Lagarde's speech, eagerly anticipated for any deviation from the ECB's recent aggressive tone, potentially impacting the euro's pressure.
The EURUSD found support at the 1.07720 level and made a double bottom in this area. The trend seems bearish and a breakout of the actual support level may take the price to the next support level at 1.0700.
|
Resistance 3 |
Resistance 2 |
Resistance 1 |
Support 1 |
Support 2 |
Support 3 |
|
1.1090 |
1.1050 |
1.1000 |
1.0850 |
1.0800 |
1.0700 |