Forecast for EUR / USD pair on March 11, 2019

On Friday, the American labor data came out excellent, taking into account the extraordinary situation on nonfarm, which showed an increase of only 20 thousand jobs against the expectations of 180 thousand. We consider 35 thousand strike participants + 20 thousand new workplaces + 11 thousand for revision and increases data in February (such a "synthetic" method is sometimes used in crisis situations), then we get 66 thousand but considerably not much, even a little. But a huge amendment was made on the unemployment rate as it fell from 4.0% to 3.8%, hence, low unemployment returned to April 2000. Moreover, with such unemployment and 50 thousand new jobs in the non-agricultural sector, these are even a very good indicator. At the same time, the average hourly wage increased by 0.4% against the expected 0.3% and be that as it may, investors are wise enough not to make hasty conclusions. We believe that the data in the negative plane has already won back. The number of new homes was 1.23 million in January compared to the forecast of 1.19 million and 1.04 million in December, which was revised down from 1.08 million).

The indications of technical indicators retain a downward trend on both the graphs under consideration. The Marlin oscillator is discharged upward from the oversold zone on the H4 chart. Now, it is ready to decline again. This time, economic indicators may become more straightforward; The forecast for retail sales is 0.0%in January and 0.4% for basic retail sales. Companies inventories for December are expected to grow by 0.6%. We are waiting for the decline of the euro to the support line of the price channel in the area 1.1158.

aoFcb3Qm8Nc2hhsPtKRSCsbzrqFaqdHx3HZFn0-A

_4KZPr-9ejOv2sFpU_HOyHvsMbIuGHtuzVJN-RS8

The material has been provided by InstaForex Company - www.instaforex.com

Comments