EUR/USD corrects sharply following strong US data, cap on crucial NFP report

EUR/USD has corrected significantly Thursday after 3 consecutive days of rise, and nothing indicates to At this point the fall is over as Forex investors brace for a downturn. the publication of the crucial NFP report on US job creation.

Remember that Thursday was a busy day. marked by a strengthening of the Dollar, against the strong US data, with weekly jobless claims below consensus, household spending above expectations, same on Chicago PMI, and price index Core PCE up from the previous month.

For its part, the Euro has failed. to benefit from higher than expected inflation figures, no doubt due to worrying German figures, as retail sales fell a surprise decline, while the number of unemployed increased; much more than expected in August.

NFP report and ISM manufacturing will preside over the fate of EUR/USD this Friday

Today, the attention of traders positioned in EUR/USD will be mainly focused on the NFP report on US job creation. The consensus anticipates 170k job creations, after 187k the previous month. The unemployment rate is about waited for him stable at 3.5%, while average hourly wages are expected to rise 0.3%.

Better-than-expected data could fuel speculation of a return to the Fed's rate hike after the fall. s a pause in September, which would further strengthen the dollar, at the expense of EUR/USD.

>>Find real-time results of all US statistics in real time as soon as they are published in the economic calendar!

Shortly after the NFP report, which will be published; to 2:30 p.m., traders will also need to keep a close eye on the US manufacturing ISM at 2:30 p.m. 4 p.m. The index is expected to rise at 47 points, after 46.4 previously.

Technical thresholds at; monitor on EUR/USD

From a graphical point of view, it is interesting to note that the 100-day moving average seems to have returned to the bottom. Euro Dollar down yesterday.

1.0921, so this MA is the first key resistance. to to take into account in the event of a EUR/USD rebound. Higher up, the major psychological threshold of 1.10 will be the next target.

À On the downside, the 200-day MA (1.0815) is associated with the psychological threshold of 1.08 and the an uptrend line visible since March 15 (1.0780) to form an important support, the break of which would put in sight the psychological threshold of 1.07, then the trough of May 31 at 1.0780. 1.0635.

EUR/USD corrects sharply following strong US data, heading for crucial NFP report  

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