Performance for the Day

The Non-Farm Payroll jump by EURUSD pair price was halted at the 1.1610 area as NFP job numbers came at 157,000 below expectation. As trade tensions between U.S and China escalate, the pair may break the 1.1545 support very soon.

The 4hr 200 moving average area is currently at the 1.1661 area as price dropped for more than 60 pips from around that level today. Technically, a close around the opening price at 1.1582 will indicate that a doji candle is formed and price may retrace back up above the 1.1610 area.

However, if trade tensions between U.S and China escalates further, the Bears may send the price down to the 1.1515 area. As at the time of writing this post, price is at the 1.1577 area.

The main focus next week on the economic calendar is U.S Consumer Price Index data.

Trade Levels to Watch

A strong break above the 1.1620 level will signal more bullish correction of the pair to the 1.1661 area. A break below the 1.1545 area will signal a bearish move of the pair to the 1.1515 area.

NFP

Caution: Forex trading is risky. It is advisable that you acquire enough experience before you start to trade with real money. Do not invest in money that you cannot afford to lose (it is important that you study leverage, lot size, and money management in Forex trading very well before you execute your trade decision).

To trade in the Forex Market you must first sign up with a Forex Broker. There are lots of Forex Brokers out there that offer good service to their clients. Services include tight spread, partnership amongst others. My preferred brokers are 1. Alpari (https://alpari.com/en/?partner_id=1244646) and 2. FXTM (http://forextime.com/?partner_id=4806145). You may sign up through any of the partner links above. You may also send me a mail in case you need me to guide you on how to sign up and start trading (beanfxtrader@gmail.com).

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