FORECAST FOR EUR/USD ON APRIL 5, 2023

The euro has chosen growth, at least soon. The EUR/USD exchange rate increased by 56 points yesterday. The price maintains its pursuit of the target level of 1.1033 – reaching its peak on February 2. Consolidation above the level will enable the target of 1.1185 — the maximum for March 2022 and the same minimum for November 2021 — to be reached.

Today, the United States will release March data on private, non-agricultural employment and the ISM Services PMI. ADP Non-Farm and ISM Services PMI are anticipated to decrease: ADP Non-Farm from 242 thousand to 200/208 thousand and ISM Services PMI from 55.1 to 54.5/3.

On the four-hour chart, the price is rising above the indicator lines, the Marlin oscillator is in the rising trend zone, and there are no indications of a price reversal.

Analysis are provided by InstaForex

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