The number of job openings in the United States decreased to 7.7 million. Moreover, the previous value was revised from 8.2 million to 7.9 million, while forecasts had anticipated 8.1 million. Although the data was disappointing, the dollar's weakness was purely symbolic. Based on these data, it is difficult to draw any far-reaching conclusions about the state of the U.S. labor market, unlike the employment data published today, which is expected to show an increase of only 115,000, which is extremely small by American standards, and a clear indicator of rising unemployment. Another negative factor for the dollar could be the Eurozone retail sales report, which is likely to show a slowdown in the decline from -0.3% to -0.1%. All of this should lead to a more noticeable and tangible weakening of the U.S. dollar.

The volume of short positions in EUR/USD decreased within the upper deviation of the psychological level of 1.1000/1.1050, indicating a slowdown in the corrective cycle.

In the 4-hour chart, the RSI technical indicator upwardly crossed the 50 middle line, indicating an increase in the volume of long positions.

Regarding the Alligator indicator in the same time frame, the moving average lines are intertwined, which may indicate the end of the corrective cycle.

Expectations and Prospects

For the first stage of the euro's recovery, the quote must be stabilized above the 1.1100 mark throughout the day. Otherwise, the price may return to the psychological level, indicating that the corrective cycle is still in progress.

The complex indicator analysis points to the euro's recovery in the short-term and intraday periods. Indicators point to an upward trend in the medium term.