On Friday, the US Nonfarm Payrolls data will be released. So, EUR/USD is expected to encounter strong volatility and we could expect it to climb 1.0171 in case the data is negative for the United States.
On the contrary, if the data is positive, we could expect the euro to drop to the psychological level of 1.0500 and even reach 3/8 of Murray around 1.0620.
If the euro trades below 1.0450 in the next few hours, it will be seen as a signal to continue selling with targets at 1.0253 and 1.0170.
As long as the instrument is trading within the downtrend channel, any technical bounce will be seen as a signal to sell. The Eagle indicator is giving a negative signal, so it makes sense to continue selling in the coming days.
