EUR/USD loses triple bottom on NFP whiplash

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EUR/USD trades under the very stubborn triple-bottom at 1.0630. The pair made an initial sniff around the level ahead of the US Non-Farm Payrolls, bounced higher away from the stubborn line on the initial reaction, and is now falling down.

What is going on? Markets initially reacted to the very disappointing jobs gain of 98K. EUR/USD jumped to 1.0666. This devilish number did not hold. After a setback to the 1.0630 level, markets focused on the various silver linings. See: NFP Analysis: The Good, the Bad and the Ugly

And this is behind the fall. Is this break for real? We are still awaiting confirmation:

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About Author

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 the 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.

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