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 declined to 209 K , this month is expected to make a small rise to 225 K . It will be published today at 12:30 GMT ….Note that a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).
How the US Non-farm Payrolls would affect the market today !!!
EURUSD : Market Price around (1.2930) levels..
The pair is very bearish , declined almost 250 pips yesterday, eyes on further losses at least towards the 1.2840 levels , however let’s see how the US Non-Farm Payrolls would affect the EURUSD today , first let’s highlight support and resistance levels:
1.3220 , 1.3159 , 1.3104 , 1.3000 , 1.2911 , 1.2840 , 1.2735 , 1.2620
Any reading above 225 K is likely to accelerate the expect bearish move towards the 1.2840 levels , any reading within 300 K range could push the pair further lower towards the 1.2735 levels…
On the upside , remember , the pair is under heavy pressure , so any rise by US data today is a chance to sell at tops , a reading around 225 K or even below 200 K , could push the pair higher to retest the psychological level 1.3000 , whatever reading ? 1.3000/1.3104 is a strong supply zone , so sell after rejection !!!!