US Non-Farm Employment Change is one of the most important economic indicators. It measures the change in the number of newly employed people in the US, excluding workers in the farming industry. A reading which is higher than the market forecast is bullish for the dollar. Here are the details and 5 possible outcomes for EUR/USD. Published on Friday at 13:30 GMT. Indicator Background Job creation is one of the most important components of economic growth. The release of US Non-Farm Employment Change is highly anticipated by the markets, and an unexpected reading could affect the direction of EUR/USD. Non-Farm Employment Change was stellar in October, rising to 204 thousand, way above the estimate of 121 thousand. However, this release covered the period of the government shutdown, so the reading may have been skewed. The estimate for the November reading stands at 180 thousand. If the indicator can beat the forecast, the dollar could gain ground against the euro. Sentiment and Levels The ECB stayed the course and maintained interest rates at 0.25%, in large part due to stronger than expected inflation numbers. At the same time, inflation is still low, money supply is short and the euro is painfully strong for many countries. Draghi could certainly place the “nuclear” option of a negative deposit rate higher on the agenda, hinting about a move in Q1. This could at least allow for a consolidation of recent gains. Over in the US, the Fed could still taper in December, especially after it was successful in separating expectations for a rate hike from QE tapering. Recent key US releases have looked sharp, notably ADP Non-Farm Payrolls and New Home Sales. So, the overall sentiment is bearish on EUR/USD towards this release. Technical levels, from top to bottom: 1.3350, 1.33, 1.3255, 1.3175, 1.31 and 1.3050. 5 Scenarios Within expectations: 172K to 188K. In such a scenario, the EUR/USD is likely to rise within range, with a small chance of breaking higher. Above expectations: 189K to 197K: An unexpected higher reading could send the pair below one support line. Well above expectations: Above 197K: The chances of such a scenario are low. Such an outcome could prop up the pair, and a second support line could fall as a result. Below expectations: 163K to 171K: A weaker reading than forecast could result in EUR/USD pushing above one line of resistance. Well below expectations: Below 163K. In this scenario, the pair could move above a second resistance line. For more about the euro, see the EUR/USD forecast. To follow this event live: [do action=”calendar-event” eventid=”9cdf56fd-99e4-4026-aa99-2b6c0ca92811″/] Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher Opinions share Read Next A strategy for hedging forex trades Guest 9 years US Non-Farm Employment Change is one of the most important economic indicators. It measures the change in the number of newly employed people in the US, excluding workers in the farming industry. A reading which is higher than the market forecast is bullish for the dollar. Here are the details and 5 possible outcomes for EUR/USD. Published on Friday at 13:30 GMT. Indicator Background Job creation is one of the most important components of economic growth. The release of US Non-Farm Employment Change is highly anticipated by the markets, and an unexpected reading could affect the direction of EUR/USD. Non-Farm… 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.