EUR/USD

Yesterday, the euro tried to rise above the target range of 1.1822/47. The range was reached, but the price did not manage to get above it, probably for two reasons: the need to travel a long distance (more than 60 points) and the presence of significant stop orders in the indicated range - the trading volumes were the highest in August. Even statistics did not help the price: unemployment in Germany in August fell to 5.5% against the forecast of 5.6%, the July figure was revised down from 5.7% to 5.6%, the European CPI jumped from 2.2% y/y to 3.0% y/y while expecting 2.7% y/y, while in the US the consumer consumption index fell to 113.8 points while expecting 124.0.

On the daily chart, the price is already above the balance indicator line, it is possible to admit some more unhurried price decline as a correction, after which we are waiting for the price to try to rise above the level of 1.1847 again. The Marlin oscillator is in the growth zone.

On the four-hour chart, the signal line of the oscillator touches the zero line, there may be an upward reversal from it, which indicates the upcoming sideways price movement.

The main event of the day will be the release of data on new jobs in the US private sector in the ADP estimate, forecast 650,000 against 330,000 in July. Since we are waiting for data on Friday non-farm weaker than forecast, today we are expecting weaker indicators for ADP Non-Farm. Well, we are waiting for the development of events.