EUR/USD continues its fantastic week, leaping above another resistance line thanks to the weak US Non-Farm Payrolls. The pair is now at the highest levels since May 22nd. How far can it go? The US gained only 96K jobs, worse than the early cautious expectations of 120K and well under the updated expectations. The drop in the unemployment rate to 8.1% wasn’t convincing, as it came on top of a drop in the participation rate to only 63.5%. So, the expectations for QE3 on September 13th are high in the sky. While these expectations are questionable, there’s less doubt that the details the ECB supplied in its press conference were convincing: unlimited buys of bonds with a maturity of up to 3 years. Spain is expected to complete its part by saying “I do” next week. EUR/USD EUR USD New Highs after Non-Farm Payrolls – click image to enlarge Euro/dollar is now at 1.2775, above the 1.2740 peak seen back in June. The next level is 1.2814, followed by 1.29 and of course the all-important 1.30 line. 1.2740 turns into weak support, followed by a stronger one at 1.2624, which was a triple top. For more, see the EUR/USD forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Spain Could Delay Aid Request Until October 21 Yohay Elam 11 years EUR/USD continues its fantastic week, leaping above another resistance line thanks to the weak US Non-Farm Payrolls. The pair is now at the highest levels since May 22nd. How far can it go? The US gained only 96K jobs, worse than the early cautious expectations of 120K and well under the updated expectations. The drop in the unemployment rate to 8.1% wasn't convincing, as it came on top of a drop in the participation rate to only 63.5%. So, the expectations for QE3 on September 13th are high in the sky. While these expectations are questionable, there's less doubt that… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
