{"id":3192,"date":"2023-06-05T10:44:17","date_gmt":"2023-06-05T10:44:17","guid":{"rendered":"https:\/\/blog.trive.com\/?p=3192"},"modified":"2023-06-05T10:44:18","modified_gmt":"2023-06-05T10:44:18","slug":"eurusd-bulls-falter-as-non-farm-payrolls-surprise-to-the-upside","status":"publish","type":"post","link":"https:\/\/blog.trive.com\/es\/comercio\/eurusd-bulls-falter-as-non-farm-payrolls-surprise-to-the-upside\/","title":{"rendered":"EURUSD Bulls Falter As Non-Farm Payrolls Surprise To The Upside"},"content":{"rendered":"<p>The U.S. Non-Farm Payrolls shocked with a 339K reading well beyond the 190K reading expected, signalling a resilient U.S. labour market.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Despite the robust jobs data, the market priced in a three out of four chance of the Federal Reserve pausing rates in the upcoming rates decision, with a higher chance of a hike now priced into the July decision. The EURUSD currency pair closed the week with a 0.15% loss. The German and Euro Area Services PMIs fell short of expectations, revealing structural weakness in the European economy.&nbsp;&nbsp;<\/p>\n\n\n\n<p><strong>T\u00e9cnicos<\/strong>&nbsp;<\/p>\n\n\n\n<p>The EURUSD currency pair has taken the route south as price action moved further from its 100-day moving average within a descending channel pattern. Support and resistance were established at the 1.06356 and 1.08292 levels, respectively.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Despite bulls finding their feet in the prior week with a price breakout above the descending channel pattern, bullish momentum was short-lived as it found resistance at the 61.80% Fibonacci Retracement Golden Ratio. A selloff immediately commenced, with bears taking the front row as the pair declined. Bears will likely be in contention to lower the pair, with the 1.06356 support level a probable point of interest.&nbsp;&nbsp;<\/p>\n\n\n\n<p>In contrast, if bearish volumes subside, a reversal could be imminent. If bulls find their way back into the picture, the 1.07548 level, which forms the Golden Ratio, could come into play.&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"611\" src=\"https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/06\/image-7-1024x611.png\" alt=\"\" class=\"wp-image-3193\" srcset=\"https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/06\/image-7-1024x611.png 1024w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/06\/image-7-300x179.png 300w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/06\/image-7-768x458.png 768w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/06\/image-7-1536x917.png 1536w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/06\/image-7-18x12.png 18w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/06\/image-7.png 1560w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Resumen<\/strong>&nbsp;<\/p>\n\n\n\n<p>With Euro Area Retail Sales and Quarterly GDP growth looming, traders will be on tenterhooks as they determine whether a recession in Europe&#8217;s biggest economy could become a reality for the bloc. In addition, this week&#8217;s U.S. Labour Market reports will provide insight into whether a rate pause is warranted in the U.S. The 1.06356 and 1.08292 levels will be critical to watch as the pair currently twists and turns within the barriers.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Sources: Markit Economics, Reuters, TradingView&nbsp;<\/p>","protected":false},"excerpt":{"rendered":"<p>The U.S. Non-Farm Payrolls shocked with a 339K reading well beyond the 190K reading expected, signalling a resilient U.S. labour market.&nbsp;&nbsp; Despite the robust jobs data, the market priced in a three out of four chance of the Federal Reserve pausing rates in the upcoming rates decision, with a higher chance of a hike now [&hellip;]<\/p>","protected":false},"author":6,"featured_media":2644,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.10 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EURUSD Bulls Falter As Non-Farm Payrolls Surprise To The Upside - 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