EURUSD Sees A Buying Opportunity On U.S Jobs Report!


The U.S will report on Nonfarm Payrolls for April today at 12:30 GMT. Analysts expect a rise to 185K, from 98K in the previous month.

The Unemployment Rate is also expected to jump to 4.6%, from 4.5% a month earlier.

The EURUSD jumped above 1.0950 (double top) opening the way for further upside gains.

Immediate support is seen around 1.0950 broken resistance turned support, next support is around 1.0916 levels ahead of 1.0874/1.0850 levels.

Anyway, the U.S jobs report is likely to bring a buying opportunity toady in a case of a pullback…

Resistance comes at the 1.1000 levels where a break is very likely, next once comes around 1.1050 levels, we might see hesitation around that level but a break will bring more gains towards 1.1100/1.1150 levels ahead of 1.1200 (main).

Conclusion: Positive U.S jobs report is likely to bring a good buying opportunity…

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