83
Currency Analyst since 2010

TDS on NFP and EUR/USD

Analysts at TD Securities warn that there is a risk of lower than expected NFP reading (consensus forecasts is 231K), because ADP employment report came lower than expected (208K vs. 223K) and a decline in the ISM Non-manufacturing Employment component.

According to TDS, if NFP comes below 200K, support at 1.2225 for EUR/USD will hold and provide the basis for a modest recovery into the end of the week.

The specialists add that there’s a 200-month MA at 1.2230 and this line supported EUR/USD every time since 2005.

EUR
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