At the beginning of the day there has been a weakening of the euro against the dollar. It was a correction (wave BC) of the previous strong strengthening of Euro against USD (wave AB). The adjustment ended around 38.2% Fibonacci level. It was caused by better-than-expected data from the Trade Balance and ADP Non-Farm Employment Change. Later there was a strong growth impulse wave CD induced ECB press conference and the publication of worse-than-expected data from the ISM Non-Manuf…
At the beginning of the day there has been a weakening of the euro against the dollar. It was a correction (wave BC) of the previous strong strengthening of Euro against USD (wave AB). The adjustment ended around 38.2% Fibonacci level. It was caused by better-than-expected data from the Trade Balance and ADP Non-Farm Employment Change. Later there was a strong growth impulse wave CD induced ECB press conference and the publication of worse-than-expected data from the ISM Non-Manuf…