EURUSD Weekly Summary: Bullish paused after NFP and unemployment rate. Technically upside scenario remains intact.

By swibowo
06 November 2009 @ 08:26 pm EDT

The EURUSD bullish momentum was paused after worse than expected NFP and unemployment numbers. However, I think yesterday’s movement was indecisive. I am not sure whether that was caused by not enough surprise between expected and actual number or lower NFP and increasing unemployment rate already anticipated and priced in the market. Overall, I personally prefer to focus more on optimistic tone by ECB and The Fed regarding economy recovery progress which I believe should continue weaken the Dollar.

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