EUR/USD: The excellent report NFP is benefiting the Dollar and triggers a corrrection

EUR/USD fall in the face of the excellent report NFP

The EUR/USD fall sharply this Friday afternoon after starting the day slightly bullish, under the influence of the excellent report NFP on job creation in US of the month of December.

It is, in fact, 312k new jobs that have been announced, versus 178k expected, the highest since the month of march, 2018. In addition, the figures for the previous month have been significantly revised up from 155k to 176k.

The average hourly wages have also been a good surprise with a monthly increase of +0.4%, versus +0.3% expected and +0.2% month-over-month, and +3.2% against +3% expected in annual data.

In the Face of these numbers, the Dollar has increased significantly, even if this was a good surprise, and was largely predictable.

On the EUR/USD, this calls into question the profile uptrend, with a low daily at 1.1363 for the moment, following a break below the upward trend line visible in the hourly data for the last 2 days.

The Euro-Dollar has also broken below the first support of the short-term at 1.1380, and facing the next support in the area of 1.1340-50, before the psychological threshold of 1.13.

Up, the psychological threshold of 1.14, and moving averages 100 and 200 hours at 1.1410 and 1.1408 form the first critical resistance on the path of a possible kickback.

Find news and analysis France on Facebook-Investingcomfrance, Twitter-InvestingFrance and Telegram-Investingfr.

Like this post? Please share to your friends:
Leave a Reply