# Trading the NFP with EUR/USD (September 6, 2013)

Source: https://www.tradersway.com/resources/market-info/trading-the-nfp-with-eur-usd-september-6-2013/
Language: en
Updated: 2013-09-06

EUR/USD made new 4-month lows yesterday, as ECB head Draghi confirmed that policymakers discussed the idea of lower interest rates. Meanwhile, the US printed a strong ISM non-manufacturing PMI reading, which extended the Greenback’s rally.



Today’s release of the non-farm payrolls report could trigger another sharp selloff for this pair, as analysts are expecting to see a rise from 162K in July to 178K in August. A strong figure could confirm the possibility of the Fed’s Septaper, which would be very dollar positive.



A retracement play could be in the works if the pair starts pulling up to the 1.3150-60 levels, which have acted as support in the past. Shorting at this area with a stop above 1.3200 and a target of 1.3000 would yield at least 2:1.



![Trading the NFP with EUR/USD (September 6, 2013)]



A breakdown could also be possible if the pair simply keeps consolidating for the rest of today’s sessions before the NFP release.



*By Kate Curtis from Trader’s Way*