The EUR/USD pair had a volatile session as one would expect during the employment figures. Ultimately, we were rejected near the 1.20 level, as the market has seen a lot of selling since then. We are more than likely going to find some support below though, probably closer to the 1.18 handle. At this point, I would be a bit hesitant to put money to work, because of the Americans being away on Monday for Labor Day. The liquidity will be thin, and that should continue to cause an issue. I will keep you advised as to what I will be doing here at FX Empire.
Written by FX Empire