Friday’s U.S. jobs data came in slightly higher than expected while the unemployment rate jumped to 3.8 percent from previous 3.5 percent. The U.S. dollar strengthened across the board which was mainly due to higher treasury yields. U.S. markets are closed today due to Labour Day holiday which could lead to lighter trading volumes and a quieter start to the new week.
EUR/USD – Things are not looking good for the euro
After a failed bullish attempt to break the 1.0950-barrier last week, the single currency fell back towards 1.0770. Chances are in favor of more bearish momentum towards 1.0660, but more importantly 1.05.
Traders will pay attention to a break below the 200-day-EMA at 1.2540 in order to sell the pound towards 1.2370. We favor a bearish stance in this pair as long as 1.27 remains intact.
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