This week we have few, but rather important events on the economic calendar – on Wednesday the FOMC meeting minutes, and on Thursday the ADP report and on Friday payrolls – information on the state of non-farm employment in the US. These events may cause more volatility on the main currency pairs. Thursday’s German inflation data could affect the EUR and the DAX40 index.
Bearish divergence on EURUSD
The beginning of the year started with declines on the EURUSD pair. Already on the last Thursday of last year, a downward divergence appeared on the H4 interval. On Friday, such a divergence appeared on the daily chart. Such formations may signal a deeper correction of the December increases. Possible declines could head towards the support/resistance level of 1.0830.
LIVE EDUCATION SESSIONS
This WEEK (02-07 January 2024 ) I am pleased to invite you to several online sessions. Below is the schedule of meetings:
Links: BASIC (beginners room) ADVANCED ROOM
The above analysis is based on the PA+MACD strategy, a detailed description of which you can read HERE . I will talk more about the PA+MACD strategy applied to these currency pairs during the live trading sessions which you can attend from Monday to Friday.
More current analysis on the group : Trade with Dargo
