U.S Dollar Sees A Buying Opportunity Ahead Of U.S Jobs Report!

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The United States will publish 2 reports on the status of jobs over the past month, excluding the farming industry today at 12:30 GMT.

1- Nonfarm Payrolls (Jul). Market analysts expect a decline to 164K, from 224K a month earlier. Note that a higher than expected reading should be taken as positive/bullish for the USD. While a lower than expected reading should be taken as negative/bearish for the USD.

2- Unemployment Rate (Jul). market analysts expect the indicator to remain the same as the previous month at 3.7% Note that a higher than expected reading should be taken as negative/bearish for the USD. While a lower than expected reading should be taken as positive/bullish for the USD.

How both reports will affect the market today?!

we have 3 scenarios:

Scenario # 1: If both reports are positive, the USD will rise, How this scenario will affect the market?!!

EURUSD: The pair sees a fall risk to 1.1015/1.0975 levels. Furthermore, support comes at 1.0930 levels.

GBPUSD: The pair will dip to the1.2000 levels where a break will aim the 1.1900 levels.

USDJPY: The pair will see a selling opportunity, a rebound to 107.15/107.70 is likely before the next fall.

AUDUSD: The massive fall will continue to 0.6725/ 0.6666 levels.

USDCAD: The recovery will continue to the 1.3280 levels ahead of 1.3340 levels.

Scenario # 2: If both reports are negative, the USD will fall, How this scenario will affect the market?!!

EURUSD: The pair will see a recovery threat to 1.1150/1.1218 levels before another fall.

GBPUSD: The pair will face recovery threats to 1.2220 levels before the next fall. Above that level will extend the corrective recovery to 1.2285 levels.

USDJPY: The pair will continue falling to 106.60 /105.87 levels.

AUDUSD: The pair will see a limited recovery to 0.6835/0.6870 levels before the next fall.

USDCAD: A sudden fall is likely to 1.3115 levels. If fails to hold, further down to 1.3055/1.3015 is suggested.

Scenario # 3: One report is positive and the other is negative?!! The market will continue moving in the current direction (sideways move). How this scenario will affect the market?!!

EURUSD: Expected range 1.1015/1.1150 levels.

GBPUSD: Expected range 1.2000/1.2220 levels.

USDJPY:  Expected range 106.00/108.00 levels.

AUDUSD: Expected range 0.6725/0.6900 levels.

USDCAD: Expected range 1.3115/1.3280 levels.

You can follow U.S jobs report in real-time from here:

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