EURUSD around 1.3400 ahead of US Nonfarm Payrolls !

EURO-Dollar-min

The US Non-farm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity, Released monthly, usually on the first Friday after the month ends. Last month jumped to 288 K , this month is expected to decline to 233 K . It will be published today at 12:30 GMT .

How the US Non-farm Payrolls would affect the EURUSD today !!!

Before we start let’s highlight support and resistance levels:

1.3000 , 1.3070 , 1.3150, 1.3220 , 1.3300 (current level: 1.3380)  1.3458, 1.3530 , 1.3561 , 1.3627

We have 3 scenarios :

  • A reading between 233 K – 288 K will bring a sideways move  with bearish bias within 1.3300 -1.3458  range.
  • A reading above 288 K will bring a decline towards the  1.3300 levels  , a breach is likely to the 1.3220  levels .
  • A reading below  233 K  will challenge the 1.3458 levels , a break towards the 1.3530 levels is an option ?!!!!

You may follow this event live here : US Nonfarm Payrolls

 Live chart of EURUSD 



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