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| EUR/USD 4-hour chart, source: forexfactory.com |
Non-Farm Employment Change in U.S. is most powerful economy indicator in the currency market. Whatever it shows, the market volatility is emphasized. It is recommended that the traders just watch the market not to trade at the moment of the index being reported.
The report on Friday was negative to greenback, Non-farm payroll recorded increasing 156 thousands. Market expectation was 175 thousand increasing and the previous report was 204 thousand increasing.
More terrible report than expectation led EUR/USD to plunge more 60 pips. One of the major currency pair faced the resistance band around 1.06 and tested the breakthrough, but the negative report repelled the currency pair.
It seems that the price of pair falls more, but it may rebound at 1.0456 and test the resistance price band again. It may break through the band but the downward trend is still available, I guess.
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