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Aug 31 - 03:55 PM

EUR/USD - Shorts Take The Lead As US August Jobs Report Nears

By Christopher Romano  —  Aug 31 - 01:35 PM
  • EUR/USD opened NY near 1.0875 after dropping in overnight trade

  • 1.0885 hit on EBS after ECB minutes, PBOC adjustment to mortgage rates

  • Gains faded however & EUR/USD fell below the 10-DMA then hit 1.0836 on EBS

  • Drop aided by US$ lift, EUR/JPY fall to 157.65 on EBS, equity ESv1 slip

  • EUR/USD longs taking profit ahead of US August jobs report also weighed

  • Pair traded down -0.73% late which gave technicals a bearish lean

  • Falling RSIs, hold below 55-DMA & daily cloud are bearish signs

  • An upbeat US jobs report could drive EUR/USD back below the 200-DMA

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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