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USA Nonfarm Payrolls Day: A Very High Opportunity
USA Nonfarm Payrolls Day: A Very High Opportunity
Posted

By - Jamel Lahiani

Posted - 02-08-2019
  • The EURUSD is waiting for a very important publication released by the US Department of Labor.

Today our analysis will be concerned with EURUSD: The most traded currency pair in the world. This pair represents the world two largest economies and has faced most volatility since the inception of the euro in 1999.

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GRAPHIC1: EURUSD HOURLY CHART (AUGUST 2, 2019)

The hourly chart is trending down. We can see that the resistance line in red is decreasing. The charts are between two limits the resistance line in red and the support line in green.
This pair is waiting for three majors and very highly impacts data released by the US Department of Labor, the Bureau of Economic Analysis and the U.S. Census Bureau concerned with:

  • The nonfarm payroll that presents the number of new jobs created during the previous month, in all non-agricultural business.
  • The Average Hourly Earnings that is a significant indicator of labor cost inflation and of the tightness of labor markets.
  • The Trade Balance that is a balance between exports and imports of total goods and services.

If after the publication at 12H30 GMT the chart breaks the red line to the upside we have a bullish trending movement «BUY”. If the chart breaks the green line to the downside we have a bearish trending movement “SELL”.

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