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EUR/USD: What Do January Non-Farm Payrolls Indicate?
Official labor market data from the
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Official labor market data from the US came in better than expected, providing (temporary) support to the American currency. Almost all components of the report were in the green, defying the pessimistic forecasts of most analysts. The market reaction was immediate: the dollar index surged, and the EUR/USD pair approached the support level of 1.1830, which corresponds to the Kijun-sen line on the D1 timeframe. However, sellers of the pair were unable to break through this price barrier.We will discuss
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Irina Manzenko,
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