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Sep 06 - 05:00 AM
EUR/USD - Traders Pave The Way For A Drop After NFPs
First appeared on eFXplus on Sep 06 - 02:50 AM
  • EUR/USD trading ahead NFPs saw those short booking profits
  • Pair rises from the year low @ 1.0926 to 1.1085 ahead ADP data
  • ADP surprised higher laying the foundations for solid NFP data
  • EUR/USD topped just ahead 21-DMA and 38.2% retrace drop from July high
  • So EUR/USD has basically met conditions of a minimum technical correction
  • Fewer shorts, higher EUR/USD and likely decent NFPs. Expect a drop

EUR/USD daily chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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