Traders are expecting another busy end to the trading week on Friday with the key US employment data due out shortly after the start of the New York session. The Non-Farm Payrolls numbers are expected to show around 65,000 new jobs added in October, with the unemployment rate forecast to remain steady at 4.2%, while the Average Hourly Earnings expected to push up to +0.3% month-on-month.
With the market still strongly pricing in another 25-basis point rate hike from the Fed in December an on target or higher print from the data may all but lock in a hike for the meeting for many traders, while a lower result could see the betting move back down towards a 50/50 chance.
The Euro is looking nicely set up on the Daily charts for a substantial move on the data. It has rallied nicely from an annual low last week but still looks to be in a strong down trend over the longer term. A stronger print should see it look to retest those annual lows, while a lower number could see the recent rally resume and push it back up into ranges seen in the last few months.
Resistance 2: 1.1461 – Long-Term Trendline Resistance
Resistance 1: 1.1272 – November High and Trendline Resistance
Support 1: 1.1119 – Trendline Support
Support 2: 1.1103 – 2026 Low
The accuracy, completeness and timeliness of the information contained on this site cannot be guaranteed. IC does not warranty, guarantee or make any representations, or assume any liability regarding financial results based on the use of the information in the site.
News, views, opinions, recommendations and other information obtained from sources outside of www.ic.com, used in this site are believed to be reliable, but we cannot guarantee their accuracy or completeness. All such information is subject to change at any time without notice. IC assumes no responsibility for the content of any linked site.
The fact that such links may exist does not indicate approval or endorsement of any material contained on any linked site. IC is not liable for any harm caused by the transmission, through accessing the services or information on this site, of a computer virus, or other computer code or programming device that might be used to access, delete, damage, disable, disrupt or otherwise impede in any manner, the operation of the site or of any user’s software, hardware, data or property.
Risk Warning: Trading in securities involves significant risk. Prices may fluctuate and securities can become entirely valueless. You may incur losses that exceed your potential profits, and in some cases, losses may exceed the amount you have deposited. Securities, futures, options, and contracts for differences are complex financial instruments and are not suitable for all investors. Engaging in such transactions requires a sound understanding of the associated risks. Please read and ensure you fully understand our Risk Disclosure.
Our leverage is dynamic and may change at any time. Such changes may affect your positions and margin requirements. You are responsible for monitoring your positions and maintaining sufficient margin at all times
