empty
 
 

07.05.202105:32 Forex Analysis & Reviews: Forecast for EUR/USD on May 7, 2021

EUR/USD

The euro did not wait for the US employment report to be released today and, bouncing off the MACD indicator line, rose by 60 points yesterday. We underestimated the impact of this technical instrument, relying on the idea of market consolidation ahead of Friday's report. Nevertheless, the market is still in a position for growth, the bulls realized the remaining potential, but now, after testing the MACD line, the next branch of the price decline can overcome it without delay. The technical task of the price remains the same - to overcome 1.2025, then move to 1.1952. Targets are determined at 50.0% and 38.2% Fibonacci levels on the daily chart. The third target is 1.1856.

Exchange Rates 07.05.2021 analysis

The MACD line at 1.2080 is an obstacle to price growth on the four-hour chart.

Today's US employment report is expected to be strong: for new jobs in the nonfarm sector, the consensus forecast is 978,000, the overall unemployment rate is 5.8% against 6.0% in March. We are waiting for the euro to fall.

Exchange Rates 07.05.2021 analysis

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Laurie Bailey,
分析专家
InstaForex集团 © 2007-2021
立即从分析师的建议受益
充值交易账户
开设交易账户

InstaForex分析评论将让您充分了解市场趋势! 作为InstaForex的客户,您将获得大量的免费服务以实现有效的交易。

现在无法通话?
提出您的问题,用 在线帮助.