EUR/USD pressured above 1.09 ahead of ADP NFP
Our preference: long positions above 1.0965 with targets at 1.1000 & 1.1020 in extension.Alternative scenario: below 1.0965 look for further downside with 1.0955 & 1.0940 as targets.
EUR/USD is trading above 1.09, off the lows. Weak ISM Manufacturing PMI and disappointing auto
sales weigh on the dollar as odds of a rate cut have risen, ADP NFP is due out shortly.
EUR/USD Forecast: Downtrend channel pointing to falls as European matches the US in miserable prospects
US ADP Employment Preview: Beware negative trends