EUR/USD Moving Toward Trendline

Written October 1, 2009 at 8:24 PM EST by  

Ahead of tomorrow’s US Non Farm Payroll, which should give the market some direction, the EUR/USD pair has sold off on risk aversion that seems to be trickling into the market place. Although commodities nor equities have sold off too much, treasuries keep appreciating and the most liquid market in the world has it right more times than not. Looking at the trendline support we have been watching, the pair is quickly approaching and a break could bring the 100 day moving average into play.

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