The most important event of the month came in like a storm and created extreme volatility in under a second. Let us talk facts:
USD Change in Non-farm Payrolls (MAY): +280K versus +226K expected, from +221K.
USD Unemployment Rate (MAY): 5.5% versus 5.4% expected.
USD Labor Force Participation (MAY): 62.9% from 62.8%.
The strong Jobs data came at an important time for the U.S. Dollar when traders and investors started to think of its recent lull as the beginning of a new uptrend for the euro, when it could actually be just a short-lived economic slowdown.
The EURUSD just lost 240pips in under an hour. Support: 1.09876
Chart: H4.
Thank you for the informative post!
ReplyDeleteVery useful.
ReplyDeleteVery Good analysis. The doubt is large!
ReplyDeleteExcellent analysis!
ReplyDeleteThank you for the analysis i'll keep an eye.
ReplyDeleteThanks for the analysis, I will keep eyes on this pair.
ReplyDelete