EUR/USD

US employment data came out great on Friday. The growth in Nonfarm payrolls was 273 thousand with the revision of January data for an increase of 48 thousand, the unemployment rate fell from 3.6% to 3.5%, and hourly wages increased by 0.3%. The trade balance improved from -48.6 billion dollars to -45.3 billion. According to the first reaction of the market, the euro rose, as investors were still under the pressure of ideas about a double Fed rate cut on the 18th, but later market players decided to close positions, investors still had doubts about such a super-aggressive behavior from the US central bank, and the euro closed the day by 45 points growth.

With the opening of a new week, after the release of Saturday's data on China's trade balance, the euro formed a rising gap of 68 points and further growth at the peak was 212 points. China's exports showed a decrease of 17.2% y/y, imports contracted by 4.0%, the total balance as a result was -7.09 billion dollars against expectations of 24.6 billion and 46.8 billion dollars in December.

The market is very overheated, which shows the extreme growth of the Marlin oscillator. We are waiting for the market to cool, the gap to close and a further decline to support the embedded price channel line in the region of 1.0980.

The Marlin oscillator shows a reversal on the H4 chart.