From today’s point of view, the daily chart of EUR/USD we can summarize in one sentence: from extremes to extremes. Last week, the pro-growth pattern appeared, which awakened currency bulls’ imagination, but quite soon it turned out that the buyers didn’t have enough strength to implement it. Now, we are observing how the complete opposite of the above-mentioned formation is shaped. Will the bears also run out of steam?

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Earlier today, the data showed that the U.S. economy added 313,000 jobs in February, beating expectations for 200,000. Despite these bullish numbers, the unemployment rate and average hourly earnings disappointed investors, which pulled the U.S. dollar away from the earlier peaks. Does it mean that another downswing in the greenback is just around the corner?

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Earlier today, investors turned their eyes towards the old continent awaiting news from the ECB. As it turned out, the central bank left euro zone interest rates unchanged and dropped decision to expand its stimulus program, which supported the euro. How the bulls used these favorable conditions?

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On Monday, the USD Index verified the breakdown under the lower line of the trend channel, which gave the bears a good reason to act. Yesterday, they managed to close the day under another important line, creating a bearish formation on the daily chart. What does it mean for the U.S. dollar bulls?

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The combination of several resistances turned out to be a too big challenge for the buyers at the end of the previous week, which resulted in a decline in the greenback on the following days. Does it mean that another profitable opportunity may be just around the corner?

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