Technical Analysis
The price movement will be influenced by the Non-Farm Payroll (NFP) and Unemployment rates. Based on current expectations, the price is likely to exhibit a downtrend, though the market may experience random fluctuations.
There is a possibility for a retest up to 38,790, followed by an upward push towards 39,050.
The price movement will be influenced by the Non-Farm Payroll (NFP) and Unemployment rates. Based on current expectations, the price is likely to exhibit a downtrend, though the market may experience random fluctuations.
There is a possibility for a retest up to 38,790, followed by an upward push towards 39,050.
- Bearish Scenario: If the price breaks below the support level at 38790, it could decline to 38580. Sustained trading below this level may lead to a further drop to 38400.
- Bullish Scenario: Stability above 38,790 indicates a potential bullish trend, targeting 39,050.
Pivot Line: 38790
Resistance Levels: 39050, 39350, 39700
Support Levels: 38580, 38400, 38290
Today's expected movement range is between the support level at 38400 and the resistance level at 39350
Summary:
- Downtrend Expected: Market influenced by NFP and Unemployment rates.
- Potential Retest: Price may rise to 38,790.
- Upward Movement: Post-retest, the price could push up to 39,050.
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