Technical Analysis
EURUSD have big potential to buy around 1.09686. This particular area have big resistance or rejection from the previous level higher time frame, it means lots of buyers took profit and sellers decided to involve in. Based on volume indicator the momentum for buyer is weakening. Target price at 1.10039
Fundamental Analysis
The US economic condition yesterday, August 7, 2023, was mixed. The labor market remained strong, with 187,000 jobs added in July, but inflation continued to rise, reaching 3.3% in the year-over-year comparison. The Federal Reserve is expected to continue raising interest rates in an effort to cool inflation, which could slow economic growth in the future.
Here are some of the key economic indicators from yesterday:
Job growth: The US economy added 187,000 jobs in July, below the consensus estimate of 200,000. However, the unemployment rate remained at 3.6%, a near 50-year low.
DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete
