The U.S. Dollar Remained Strong Even Though the September Job Report Was Lackluster

The EURUSD was unable to reverse the downtrend even after the disappointing job data from the U.S.

The EURUSD was trying to move up after the U.S. job report, but the euro buyers were not pushing it hard enough.  The US non-farm payrolls numbers came in way below the market expectation at 134k.  The euro is off the low but the trading activity was lackluster.  The euro fell below the 1.15 handle yesterday after the stunning ADP report.  The private sector added 230,000 jobs in September, which far exceeded the expectation.

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.

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.

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