August jobs report revealed a still robust labor market, despite some signs of deterioration. As a result, the dollar became stronger than the euro.
The EUR/USD has broken several trendlines since its mid-August fakout.
The red trendline is a major one. It rejected price last week.
The EUR/USD is also testing the 200-day SMA and a 6-month trendline.
Upon break down the Fiber is likely to drop to 1.0650 support.
The EUR/USD has broken several trendlines since its mid-August fakout.
The red trendline is a major one. It rejected price last week.
The EUR/USD is also testing the 200-day SMA and a 6-month trendline.
Upon break down the Fiber is likely to drop to 1.0650 support.
Price action, simple and clean!