Technical Talk:EUR/USD 02-10-2019

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.

Comment:
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.

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