Mixed U.S Jobs Report, Buy U.S.D On Dips!


    The U.S Nonfarm Payrolls fell -33K, from 156K a month earlier, missing forecast of 90K in the last month, this scenario put the USD under pressure, but in return; the Unemployment Rate declined 4.2%, from 4.4% in the last month, analysts had expected it to remain unchanged as the previous month.

    This scenario is supposed to support the U.S dollar, since the USD is bullish, buying the dollar on dips is recommended!

    EURUSD: the pair fell to 1.1670 levels as we expected this early morning, but with mixed U.S data; I think breaking below that level is not easy today, anyway; below 1.1670 sees a fall risk to the 1.1585 levels, further down, support stands at the 1.1478 levels…

    On the upside, according to 1-hour chart, immediate resistance comes at the 1.1708 levels, an hourly closing above that level will turn the focus on the 1.1740 levels ahead of 1.1765 levels, note that an hourly closing above 1.1780 levels will challenge daily chart resistance at 1.1814 levels.

    GBPUSD: the pair is very bearish, but it nears critical support on the daily chart at 1.3042 levels, with mixed U.S data today, the pair may not be able to cut through the1.3042 levels, If this happens, next support comes at 1.3000 followed by 1.2908 levels.

    On the upside, according to 1-hour chart, resistance comes at 1.3100 levels ahead of the 1.3175/1.3232 levels…

    The idea remains buying the USD on dips…