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Forex technical analysis: EURUSD reverses after stronger ADP

Discussion in 'Technical Analysis' started by ForexLive, Jan 6, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    Global concerns more a focus vs. the ADP? Chop. Chop. The ADP report came out much stronger than expected (268K vs 197K est). Yet the EURUSD tumbled, stalled at the lows from yesterday at 1.0710 and then rallied. The US pre-stock market indications remain tilted lower although off the lows a bit. US trade deficit has come in better (that is less negative) than expectations at 42.4B vs. 44.0B estimate. This should be good for 4Q GDP growth estimates. Stanley Fischer is speaking. He skated around, gave a caveat that things change but 4 hikes seems about right.

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