US Nonfarm Employment Change 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 12:30 GMT. Big news: GBP/USD flash crashes under 1.20, jumps back to only 1.24 Indicator Background Job creation is one of the most important leading indicators of overall economic activity. The release of US Non-Farm Employment Change is highly anticipated by the markets, and an unexpected reading can have a substantial impact on the direction of EUR/USD. Nonfarm Employment Change dropped sharply in August report to 151 thousand, well short of the estimate 180 thousand. The indicator is expected to rebound in September, with an estimate of 171 thousand. Will the indicator climb higher as expected? Sentiment and Levels Despite a weak Eurozone economy and banking troubles, EUR/USD has shown extreme stability. Monetary divergence favors the US dollar, but the euro continues to hold its own. So, the overall sentiment is neutral on EUR/USD towards this release. Technical levels, from top to bottom: 1.1375, 1.1335, 1.1230, 1.1190, 1.1125 and 1.1070 5 Scenarios Within expectations: 168K to 174K: In such a scenario, the EUR/USD is likely to rise within range, with a small chance of breaking higher. Above expectations: 175K to 179K: An unexpected higher reading could push the pair below one support line. Well above expectations: Above 179K: Such an outcome could push the pair lower and two or more support lines could fall as a result. Below expectations: 163K to 167K: A weak reading could result in EUR/USD breaking above one resistance line. Well below expectations: Below 163K: A very soft reading could result in the pair breaking above two or more resistance lines. For more about the euro, see the EUR/USD forecast. 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 Dollar dominance continues as jobless claims beat with 249K Yohay Elam 6 years US Nonfarm Employment Change 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 12:30 GMT. Big news: GBP/USD flash crashes under 1.20, jumps back to only 1.24 Indicator Background Job creation is one of the most important leading indicators of overall economic activity. The release of US Non-Farm Employment Change is highly anticipated by the markets, and an unexpected reading can have… 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.
