EURUSD in a possible downward move

Yesterday it was reported that ADP Employment Change rises 164,000 in December vs. 115,000 forecast

Considering the ADP data today tomorrow the market can anticipate NFP data to come higher than expected.
NFP Data for December is expected 170K vs 199K in November.

On the other hand, EURUSD recovered many pips and in a very short period, if we refer to the 28-December-2023. Almost 245 pips are recovered and considering how the price is reaction we can see EURUSD moving down more.

However, we must be very careful because NFP is one of the most important events of the month and it is expected from all the market participants. I will be volatile moment and risky as well.

You can find more details in the chart!
Thank you and Good Luck!

Comment:

🚨Breaking
🇺🇸NFP employment data rises 216K in December vs. 170K forecast

Comment:

🛑Feeling frustrated by the moves created after the NFP data?
What happened?

The NFP employment data rose 216,000 in December versus 170,000 forecasts

In reality, nothing happened. This was just a crazy move to the opposite side of the USD despite the strong employment data.

You can search, but there is no logical explanation because the market did not speculate on the decision of the FOMC for the next meeting, considering that they have made it clear that they will stop the interest rates but will keep them longer to create price stability.

So if you want to understand why the USD was weaker after the NFP data and Gold was stronger, just don't try to figure it out today.

👉Just be careful as it could be back on track next week.

✅PS: I will prepare a Tradingview live stream tomorrow, about this topic-Market Outlook