European Session EURUSD Looking US NFP Data Today

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Technical Overview:

Day Trading Range: 1.1580 - 1.1710

Pivot: 1.1635 (EURUSD CMP 1.1642)

Key Resistance: 1.1662 - 1.1688 - 1.1710

Key Support: 1.1630 - 1.1610 - 1.1580

Most Likely Scenario: short positions below 1.1634 with targets at 1.1608 & 1.1578 in extension.

Alternative scenario: above 1.1634 look for further upside with 1.1664 & 1.1688 as targets.

Technical Indicators:

MACD: The MacD lacks upward momentum.

Moving Avg: SMA200 (1.1580) & SMA100 (1.1577) strong support for the day. Price is above SMA, Short term bullish scenario.

Fundamentals:

Sino-U.S. Trade War Updates Remain Main Focus of Investors
However, a break above the previous day’s high of 1.1659 may remain elusive, courtesy of escalating US-China trade tensions. Moreover, China is likely to retaliate in kind if the US goes ahead with the fresh round of tariffs. That said, a big rally towards 1.1733 (recent high) could be in the offing if the US average weekly earnings and non-farm payrolls figure for August, scheduled for release at 12:30 GMT, misses estimates by a wide margin, adding credence to the argument put forward by the likes of Fed’s Bullard that the central bank should stop raising rates now.

On the other hand, a big beat on the wage growth figure would reinforce hawkish Fed expectations, driving the US dollar higher across the board. While the Eurozone second-quarter GDP, due for release at 09:00 GMT could move the EUR pairs. Moving forward, a close above 1.1704 opens the door for a test of the 1.1840-52 area. Alternatively, a push back below support in the 1.1530-54 zone paves the way for a decline back to Augusts swing bottom and unless either of these price levels are breached the pair is expected move in range bound pattern trapped inside mentioned price levels.

Thanks
YoCryptoManic
Сделка закрыта: достигнута тейк-профит цена
US released mixed data:

The U.S. added 201,000 new jobs in August, a sign the economy was still expanding strongly toward the end of summer. The unemployment rate was unchanged at 3.9%. The biggest news was higher worker pay. The average wage paid to American workers rose by 10 cents, or 0.4%, to $27.16 an hour. The yearly rate of pay increases climbed to 2.9% from 2.7%, marking the highest level since the end of the Great Recession in June 2009. Employment gains for July and June, meanwhile, were revised down by a combined 50,000, the Labor Department said Friday. The government said 147,000 new jobs were created in July instead of 157,000. June's increase was cut to 208,000 from 248,000.

We have made 65 pips in EURUSD in short position.
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