Salam, it's much ado about nothing last week where euro fluctuated back and forth through EMA 365 line. For scalpers, they might be making a decent profit there, taking 20-30 pips each for 4,5 transactions. I only made 90 pips (forgot already), out of two trades. But euro did a big comeback after the suprised announcement from the the US Commerce Department that they will impose tariffs on Chinese exports of glossy paper for the first time in over 20 years. The dollar sold off on the announcement on fears of retaliatory measures by China and the impact brought on by protectionism. After briefly touched 1.3410 (?), euro retraced a bit, and currently trades at 1.3348
But we are all waiting for US ISM index, one of the big market movers tonight at 10.00 p.m Malaysian time. I'm neutral over this, but I think dollar needs some serious much better than expected figure to take out support line (1.3280). Otherwise it's the euro that will be running the show.
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