The Strong U.S. Private Sector Job Numbers Sent the EURUSD down to 1.15 Again

The EURUSD has been trading between 1.15 and 1.1590 since yesterday.

The EURUSD recovered some of the huge losses that it had suffered from since September 24, but the weakness resumed after the strong U.S. ADP survey numbers.  The private sector added 230,000 jobs in September, which far exceeded the expectation.  The pair is gradually moving toward the 1.15 handle again.

The euro’s downtrend on the hourly chart is still in tact.  The 1.15 handle is key.  The euro was able to bounce back from this level several times in the past.  Should it fall below the 1.15 level, we will be looking at the next stop near 1.13.  The non-farm payroll numbers on Friday, and particularly, the hourly wage numbers, will probably determine whether the euro can hold above 1.15.

There has been 1 trade from my MT4 EA since the last update.  It was a loss.

The strategy can be found here.

The previous week’s result can be found here.

Leave a comment

Your email address will not be published. Required fields are marked *