Hey Guys, So previous trade matured and hits the Take Profit @ 1.1170 making 60 Pips Profit for us. I hope you guys enjoyed the trade. Feel free to share you feedback in comments and keep following for more Trades.
Finally, we have a big day and market is already pricing in the better than expected NFP & US unemployment rate.
EURUSD broke out of its narrow trading range and floated lower throughout the evening sessions to conclude below at 1.1150, and fell to place a low of 1.1139 falling overall 70+ pips.
Fundamentally, filings for U.S. unemployment benefits fell last week almost to the lowest level since 1973, as employers show scant willingness to fire workers amid a tightening labor market. Jobless claims dropped by 5,000 to 249,000 in the week ended Oct. 1, a Labor Department report showed Thursday in Washington
Today on Friday, the investors are recommended to monitor the following events:
German Industrial Production m/m
French Gov Budget Balance
French Industrial Production m/m
French Trade Balance
Average Hourly Earnings m/m
Non-Farm Employment Change
On Friday , the EURUSD is maintaining its sharp bearish momentum and it is likely to stay below 1.1175. It likely to continue selling trend in the market until next target level of 1.1075 . The Important resistance is still found near 1.1175 while more supply is looming at 1.1270, and support found at 1.1075 and at 1.1025. We can see in the chart a trend line is here to push the pair back to selling.
NOTE: We have highly impacted releases today from the US (NFP & Unemployment Rate), so stay Cautious..!!
Daily Trading Range:
1.1270 – 1.1025
Daily Support & Resistance Levels
Pivot Point: 1.1168
– Sell below @ 1.1150
o Take Profit:
1st @ 1. 1075
o Stop Loss 1.1170