EUR/USD Forex Signal – Pullback in Sight Before Major Jobs Data
The EUR/USD pair showed bullish movement earlier this week, riding on softer US economic sentiment and slight risk-on tone in the market. But with the ADP Non-Farm Employment Change data due soon, traders are now expecting a brief pullback, a pause before the storm.
Why the Market May Pull Back
The recent upside momentum on EUR/USD was largely due to a weaker dollar. However, as traders begin to position ahead of the ADP jobs report, short-term uncertainty may cause a minor correction.
Key factors influencing this pullback potential:
Market caution ahead of U.S. labour data
Possible profit-taking by short-term bulls
Technical indicators approaching short-term overbought zones
This does not mean a trend reversal, but rather a healthy breather before the next leg.
Technical Outlook
Current support zone: 1.0725 to 1.0740
Resistance to watch: 1.0780 to 1.0800
Bias: Short-term pullback possible, medium-term bullish continuation if support holds
Traders watching the 1.0740 level should prepare for a bounce scenario, especially if the ADP data comes in below expectations, putting pressure on the dollar.
Ajmal’s Trading Note
“EUR/USD often reacts with volatility around major U.S. job data. I avoid chasing spikes. Instead, I wait for price to test key structure zones and I execute only when the reaction confirms direction.”
This patient, structure-based approach is what Ajmal applies in PAMM and coaching trades every week.
How to Trade It
For those not ready to self-trade these setups, Ajmal’s PAMM service provides the structure and experience needed to trade key events like this without emotional pressure or guessing games.
