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Weak ADP sends the EURUSD higher/Unit Labor costs sends it lower

Discussion in 'Technical Analysis' started by ForexLive, May 4, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    Trade balance better than expected. The ADP employment report was not so hot, with a rise of 156K vs the estimate of 195K. The weaker data has the EURUSD moving to new session highs (the price peaked 1.15288). The 38.2% of the move down from yesterday's high comes in at 1.15248. The midpoint of the same move lower comes in at 1.15421. Look for rallies toward the 50% to be sold today.

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