Euro paused to digest gains having reversed upward as expected against the US Dollar following two days of aggressive gains. Near-term resistance is at 1.1320, the 50% Fibonacci expansion, with a break above that on a daily closing basis exposing the 61.8% level at 1.1439. Alternatively, a reversal below the 38.2% Fib at 1.1202 clears the way for a test of the 1.1005-55 area (23.6% expansion, horizontal pivot).
| Resistance | Support |
|---|---|
| 1.1320 | 1.1202 |
| 1.1439 | 1.1005 |
| 1.1585 | 1.0818 |
Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2015.06.05 14:37
2015-06-05 13:30 GMT (or 15:30 MQ MT5 time) | [USD - Non-Farm Employment Change]if actual > forecast (or previous data) = good for currency (for USD in our case)
[USD - Non-Farm Employment Change] = Change in the number of employed people during the previous month, excluding the farming industry. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
==========
"Total nonfarm payroll employment increased by 280,000 in May, and the unemployment rate was essentially unchanged at 5.5 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, leisure and hospitality, and health care. Mining employment continued to decline."
MetaTrader Trading Platform Screenshots
Alpari Limited, MetaTrader 4
EURUSD M5: 179 pips price movement by USD - Non-Farm Employment Change news event
