EURUSD - Short - Pre ECB Thursday
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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