Still failing to provide a clear direction for the movement of the US dollar, the economic data of the United States (US) published in the New York session yesterday was considered mixed.
Although the US consumer confidence survey data recorded a good number, JOLTS employment came in with a more gloomy reading for September than forecast and also the previous month's figure.
The US dollar showed a strengthening at the beginning of the New York session, but after the data was published, the king of the currency returned to display gloomy movements until the end of the session.
If examined on the price chart of the EUR/USD currency pair, the price initially showed a drop below the 1.08000 zone as if giving an early signal to continue the previous bearish movement.
However, after reaching around 1.07700, the price bounced back above 1.08000 to return to moving in the previous horizontal zone.
The price movement that is also above the Moving Average 50 (MA50) support line on the 1-hour time frame on the EUR/USD chart has sparked expectations for the bullish pattern to happen again.
Investors will be looking forward to some more important data towards the end of the week that could drive the market including ADP and NFP jobs, US economic growth and the PCE index.
If the data comes with gloomy numbers and pressures the US dollar, the price will make a higher increase to go back to the 1.09000 concentration zone.
However, if the situation is the other way around, the price that drops below the 1.08000 zone will expect a lower drop to continue towards the target up to 1.07000.
