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EUR/USD Jumps Following NFP Release, Retreats Immediately

US nonfarm payrolls released today were very mixed, resulting in volatile trading on the Forex market. EUR/USD jumped after the release but backed off immediately to trade below the opening level as of now.

Nonfarm payrolls rose 178k in November, in line with expectations. But the October gain was revised negatively from 161k to 142k. Unemployment rate fell from 4.9% to 4.6% unexpectedly. Average hourly earnings fell by 0.1% instead of rising by 0.2% as analysts had predicted. The earnings were up 0.4% the month before. (Event A on the chart.)

EUR/USD as of 2016-12-02

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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