Forex technical analysis: Better ADP sends the EURUSD swinging around

Discussion in 'Technical Analysis' started by ForexLive, Dec 2, 2015.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    Rally into it. Fall after it. Back toward 1.0600 The ADP came in better than expectations at 217K vs 190K. In pre-data trading there was a spike higher in the pair as liquidity dried. Then a quick plunge to the lows of the day at 1.05814 (the low came in at 1.05809). The price has moved back toward the 1.0600 level. Mike reported earlier that there are 4bln options expiring at 1.0600. The price is staying below the level. A move below the lows for the day will be key for the pair. PS. the 100 hour MA comes in at 1.05966. The price is back below that level too.

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