Big countrend move if EUR/USD breaks 1.20

NFP on Friday (Actual 148k against forecasted 190k), with hourly earnings as forecasted at 0.3%.
This weaker than expected economic data resulted in a weaker USD, with USDCAD dropping 140pips within the hour.

However, this employment report also indicates steady improvement in the labour market, with no signs of overheating.
Therefore, we can still expect the FED to maintain course for 3 rate hikes in 2018, signaling gradual USD strength.

Commentaire:

First profit target achieved, at support level 1.9500

Now to monitor if trade will move lower towards next support level 1.1880

Commentaire:

*Typo: correction from 1.9500 to 1.1950

Commentaire:

euro bounced to retest the 1.1945 level
looking for a resumption of the move down today