EUR/USD, Trading Plan for next month ❗❗

6 авг. 2021 г.

Decided to look at the EUR/USD chart. Every Friday of the new month Non-Farm Payrolls is released. The Non-farm Payrolls report not only the current payrolls and the number of additional jobs, but also compare them to the previous period. The statistics can influence currency prices as well as gold, oil, and other commodities.
It is Friday of the new month.
What's on the chart?
We see that the price is pulling up to the trend line. Additionally, we are approaching the important level of $1.176. The price has already tested this level several times, after the last test there was a very slight reaction, which indicates the weakness of the buyer.
It is very likely that the next test will be unsuccessful and the price will break this level. After that, there will be a strong move downwards.

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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade