US Nonfarm Payrolls Falls 142K In Sept, USD Follows!

The US Nonfarm Payrolls fell 142K, from 136K in the previous month, missing forecasts of 203K.

The Unemployment Rate remains unchanged 5.1% as the previous month and as expected.

Market impact: This development pushed the US dollar lower, let’s see the market impact on major pairs:

EURUSD: The pair jumped from 1.1160 levels towards the 1.1300 levels, note that any upside move should be limited by the 1.1295/1.1330 levels, in case of a pullback, support comes at the 1.1193 levels where the rebound is very likely, expected range: ( 1.1160-1.1330), sustained breakout above the 1.1330 levels will open 1.1514 levels. On the downside, a daily close back below 1.1193 followed by a 4 hour closing below 1.1160 levels will reverse risk to the downside…

Intraday resistance comes at the 1.1285 levels, a break on a 4 hour closing basis, will build pressure on the 1.1330 levels, a failure to hold gains above the 1.1285 levels could mean a return to the 1.1193/1.1160 levels.

GBPUSD:The pair remains under pressure as long as trades below 1.5240 levels, a clear break above 1.5240 will extend recovery towards the 1.5365 levels…..

Intraday resistance comes at the 1.5222 levels, a break may expose the 1.5240 levels, a failure to hold above the 1.5225 levels on a 4 hour closing basis could mean a return to the 1.5150/1.5100 levels.

USDJPY: The pair is testing critical support at the 118.80 levels, a halt is likely , however; Intraday support comes at the 119.18 levels, a cut through this level may expose the 1118.80 levels, but in return, a failure to hold below the 119.18 levels on a 4 hour closing basis, could mean a return to the 120.00/121.00 levels.

Note:(Intraday support and resistance levels mentioned above can be used on smaller time frames to capture an early move)…….