EUR/USD brushes of non-farm payrolls
When something won't go down on bad news, it probably won't go down at all. Today's non-farm payrolls was about the best news EUR/USD bears could have hoped for. Yet after a 50-pip blip lower, we're right back to the pre-NFP highs.
The problem for EUR/USD bears is that we already knew that the Fed would hike. The statement will almost surely be a vanilla, wait-and-see sortof thing so there's nothing in the pipeline for dollar bulls to get excited about.
On top of that, EUR/USD shorts are still extremely crowded and we're headed towards year end.
In terms of a trade, I don't know if there's much left in the tank this week but if anything, it should be able to get a bit more traction as Europe heads to the pub.
