Little steps as the week comes to a close for European traders
The EURUSD is moving lower, trades at session lows and is taking baby steps toward the next targets. The move has been able to crack trend line support at 1.1629. That is now risk.
The next targets come in at the Wednesday low at 1.1605 and the week low at 1.1593.
The drive to extend the 98 pip trading range is on. Can the momentum continue? Stay below 1.1629 and there is that chance.
The 10 year yield is in the black now at 2.3487%. Gold is lower (does it lead to more dollar buying?). It is down -$6.70 now at $1269.70.
The employment data was good and bad (where is the earnings?). The other data today was good (factory orders and ISM non-manufacturing data beat).