{"id":8404,"date":"2025-02-07T09:30:42","date_gmt":"2025-02-07T09:30:42","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&p=8404"},"modified":"2025-05-12T09:53:40","modified_gmt":"2025-05-12T09:53:40","slug":"nfp-feb-2025","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/sv\/education\/market-insights\/opening-bell\/nfp-feb-2025\/","title":{"rendered":"NFP Jobs Report Supports Weaker Dollar; FX Majors May Recover"},"content":{"rendered":"\n

The Non-Farm Payroll Jobs Report is releasing today at GMT 1:30PM, with the projection of 169K jobs being created \u2013 a significant contraction from the previous month\u2019s value.<\/p>\n\n\n\n

NFP Jobs Report<\/strong><\/td>Previous<\/strong><\/td>Forecast<\/strong><\/td><\/tr>
February<\/td>256K<\/td>169K<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

This contraction supports the idea of a weakening dollar, and with the DXY rejecting off a major weekly resistance zone (and also backtesting the rejection with a 61.8% Fib Retracement), it\u2019s likely that the Dollar will continue to weaken in the following days or weeks.<\/p>\n\n\n\n

Aligning with this, regular bullish divergences<\/a> have spotted on EUR\/USD, AUD\/USD, and NZD\/USD on the daily timeframe<\/p>\n\n\n\n

DXY Analysis<\/h2>\n\n\n\n
\"\"<\/figure>\n\n\n\n

The Dollar Index recently just backtested the 61.8% Fib of its weekly rejection candle, resulting in a daily rejection candle \u2014 thus confirming bearish sentiment in the short term.<\/p>\n\n\n\n

The closest support zone is 107.02-107.35, which has already experienced a test on January 27th, weakening the zone\u2019s strength as a support. This increases the likelihood of a decline towards the 105.49-105.89 support<\/strong>.<\/p>\n\n\n\n

EUR\/USD Analysis<\/h2>\n\n\n\n
\"\"<\/figure>\n\n\n\n

Euro-Dollar has a bullish RSI divergence dating back to November 2024. A recent rally in January, followed by a successful retest of the pivot low zone on February 3rd, adds to the possibility of a bullish reversal.<\/p>\n\n\n\n

For a broader reversal to be confirmed, a clear break of the pivot high at the 1.0593-1.0634 resistance<\/strong> needs to happen.<\/p>\n\n\n\n

However, for more aggressive traders, there are two setups to look for:<\/p>\n\n\n\n