The euro took a break from the rallies after the US jobs report. EUR/USD finally made a significant correction. What’s next? Here is their view, courtesy of eFXnews: Danske Bank FX Strategy Research notes that EUR/USD fell on today’s NFP announcement, which showed employment rose by 209,000 in July and June was revised up to 231,000. “The combination of lower unemployment and better wage data sent EUR/USD slightly lower on the announcement, as it supports the Fed’s case for announcing quantitative tightening (shrinking the balance sheet) in September and raising rates again in December,”Danske adds. “The price a action shows the market’s eagerness to buy EUR/USD. In our view, we could see a push towards 1.20 over the coming one to two weeks, as momentum is very strong. However, the move is likely to fade ahead of the Jackson Hole symposium on 24-26 August and the ECB meeting on 8 September, with the pressure building on the ECB to raise concerns about the strength of the EUR. The effective EUR is now back to September 2014 levels. For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next EUR/USD – rally not over, but could slow down Yohay Elam 6 years The euro took a break from the rallies after the US jobs report. EUR/USD finally made a significant correction. What's next? Here is their view, courtesy of eFXnews: Danske Bank FX Strategy Research notes that EUR/USD fell on today's NFP announcement, which showed employment rose by 209,000 in July and June was revised up to 231,000. "The combination of lower unemployment and better wage data sent EUR/USD slightly lower on the announcement, as it supports the Fed's case for announcing quantitative tightening (shrinking the balance sheet) in September and raising rates again in December,"Danske adds. "The price a action shows… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
