The popular Fiber or EURUSD pair is expecting NFP and Unemployment that will surely spike the volatility in the market. ADP dropped heavily and that was the worst reading in last 2 years. ADP is usually a precursor for NFP so the market could expect worse than forecast numbers (202k is forecast). Another important release is Unemployment rate that should remain low ( 5% forecast).
If the final result comes worse than expected EURUSD should spike to the upside. The important level for the upside to watch is 1.1435 as the spike above should lead the pair towards 1.1485X cross ™ - Red rectangle and 1.1512.
Downside support zone is 1.1385-75 and if the zone breaks the pair should drop towards 1.1345 and 1.1295.Support zone is also in a confluence with historical LVZ ( Low Volatility Zone ) marked as blue rectangle.
NFP Price Action could be nasty as the price can whipsaw if the results are mixed, so pay attention to levels, price action flow and noise that can happen prior to NFP data release and just after the release itself.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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