EURUSD bullish 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 raised to 192 K , this month is expected to rise to 210 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 on the daily chart :

1.3693 , 1.3720 , 1.3773 , 1.3966 , 1.4000 , 1.4080 , 1.4135

  • A reading between 200 K – 250 K will bring  sideways move within 1.3773 -1.3966  range.( buy on dips).
  • A reading between 250 K – 300 K  ( unexpected ) will bring strong bearish move  towards the  1.3720/1.3693 levels.
  • A reading between 150 K – 200 K   will bring bullish move to the 1.3966/1.4000 levels.
  • A reading  below 150 K ( unexpected ) will challenge / expose 1.4000 levels , and open 1.4100 levels..

 

 Live chart of EURUSD 

MARKET DATA

UPCOMING ECONOMIC EVENTS