We still see EURUSD moving lower towards 1.09 but first it would have to break the resistance level at $1.102. We are confident it can do this as the dollar sustained gains over the week against the euro despite a weak non farm payroll number, coming in at 130K vs 160K expected. Furthermore, the ECB meeting on Thursday where the ECB is expected to cut rates from -0.4% to -0.5% and introduce additional stimulus could lead to further downside pressure for EURUSD.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.