EUR / USD pair
The euro is firmly held by the MACD line resistance on the daily chart. On the first trading day of the new year, the euro did not make another attempt to break up and is ready to consolidate under the price channel line of 1.1410, the level of which also corresponds to the MACD line on H4, which will create an initial condition for further downward movement. Long-lasting consolidation since last fall has created many strong levels that will now serve as targets. The nearest levels are 1.1355, 1.1307, 1.1270, 1.1210.
Nevertheless, the conditions for reducing prices have not yet formed. The Marlin indicator is in an upward trend on both charts. The MACD daily line is the only resistance of the price and the probability of its breakthrough. This development allows for the growth of the euro in the range of 1.1526/75. On Friday, there is the data on employment in the United States. Optimistic forecasts on the growth of jobs in the non-agricultural sector is expected to be 181 thousand in December versus 155 thousand in November. The average hourly wage is expected to increase by 0.3%. On the same day, the Services PMI is released in the final assessment for December with a revision from 53.4 to 53.5 is possible. On the basis of the characteristics of the main scenario, we accept the mid-term decline of the euro.
