Today at 12:30 GMT will be published the US Non-Farm Payrolls for September and it seems that we could expect an increase from 151,000 to 175,000 jobs according to recent market consensus. The price action across the EUR/USD pair is already showing an interesting pattern, as during Thursday’s session posted fresh lows and it could be a hint that the markets are pricing a possible increase for the upcoming NFP release.
The technical picture for EUR/USD at H4 chart is showing a sideways structure in formation, where the buyers are capped by the 1.1200 handle. However, the pair is still trading above the support level of 1.1127, where a better-than-expected reading could deliver more sellers for EUR/USD and it could decline towards the 1.0689 level. In the other scenario, if we see a rebound at the current stage, then the next target should be the 1.1227 level.
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Origin: FX BAZOOKA
