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

USA Nonfarm payrolls min
USA Nonfarm payrolls min

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)…….




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