EURUSD rises again amid growing Fed rate cut expectations
On Friday, U.S. job data (NFP) showed an increase of just 73,000 for July—far below forecasts. This weak result suggests deeper problems in the labor market.
Many financial institutions now expect the Federal Reserve to cut interest rates in September. Markets are pricing in over 63 basis points of rate cuts by the end of the year.
Adding to uncertainty, President Donald Trump dismissed Bureau of Labor Statistics Commissioner Erika McEntarfer on Friday, accusing her of manipulating job data.
Investors are also concerned about the impact of Trump’s new tariffs, which could slow economic growth and push inflation higher.
Technical Analysis:
From a technical perspective, EURUSD broke below the neckline of a double top pattern, confirming the bearish setup.
The price hit the first downside target before bouncing back, likely driven by speculation around the NFP report.
Looking ahead, there's a strong chance EURUSD could begin another downward move from this zone, as suggested by our earlier chart analysis.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
On Friday, U.S. job data (NFP) showed an increase of just 73,000 for July—far below forecasts. This weak result suggests deeper problems in the labor market.
Many financial institutions now expect the Federal Reserve to cut interest rates in September. Markets are pricing in over 63 basis points of rate cuts by the end of the year.
Adding to uncertainty, President Donald Trump dismissed Bureau of Labor Statistics Commissioner Erika McEntarfer on Friday, accusing her of manipulating job data.
Investors are also concerned about the impact of Trump’s new tariffs, which could slow economic growth and push inflation higher.
Technical Analysis:
From a technical perspective, EURUSD broke below the neckline of a double top pattern, confirming the bearish setup.
The price hit the first downside target before bouncing back, likely driven by speculation around the NFP report.
Looking ahead, there's a strong chance EURUSD could begin another downward move from this zone, as suggested by our earlier chart analysis.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Note
Previous analysis
Note
Previous analysis
Trade active
✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.