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US Non-Farm Payrolls Matched Expectations…Wages Increased…Now what? Sell into strength or Buy into weakness??

Aug 2, 2019 (13:04)

by John Knobel

EUR/USD remains in a strong multi-month downtrend; current price 1.1090; price trading below its short, medium and longer term moving averages (Bearish); RSI analysis is bearish since RSI momentum is trending lower and current RSI has crossed below its 14 period moving average; short positions can be technically supported for 1.0990 and 1.0920 downside potential while upside seen limited to 1.1160;

US Non-Farm Payrolls Update:

US Unemployment rate remains at 3.7%; a 50 year low
US companies added +164,000 new jobs during July; down from June
Wages moved higher confirming a solid US labor market

Source: FXGM / Bloomberg

The original content of this Market Update is done in the English language. Any other language translation is provided for the sake of convenience. In case of any inconsistencies between the original English version and any other language, the original English version shall prevail.

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