EURUSD: Reaction Post-NFP Data Release

9 Mar

EURUSD Reaction Post-NFP Data Release

On Friday, the United States reported its Non-Farm Payroll (NFP) data. The figures were slightly lower than expectations, coming in at 151K compared to the forecast of 160K. However, they were significantly higher than the previous month's figure of 125K. Additionally, the unemployment rate increased to 4.1% from 4.0%, which hindered the USD's strength. Nevertheless, the overall performance of the U.S. data was not unfavorable.

Given that EUR/USD had already paused in our potential reversal zone, the likelihood is that it has reached its peak at 1.0890. The next anticipated movement should be a bearish correction, with targets at 1.0765, 1.0685, and possibly further down to 1.0630.

You may find more details in the chart!
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10 Mar

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