06.05.202205:22 Forex Analysis & Reviews: Forecast for EUR/USD on May 6, 2022

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Yesterday, the euro did not build on Wednesday's success - yesterday it fell by 80 points, and the day's low reached the target level of 1.0493. Thus, the price clearly prepared to storm this support after the release of US employment data tonight and further decline to the lower border of the price channel at 1.0405 on the daily chart, further leaving the channel down to the target level of 1.0340 (January 2017 low).

The price settled below the MACD indicator line on the four-hour chart, the Marlin Oscillator has not yet decided to enter the bears zone. The euro is preparing for the release of employment data in the US. The unemployment forecast for April is 3.5% against 3.6% in March.

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