Posted by Nadia Simmons - Sunshine Profits
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Earlier today, the U.S. Department of Labor reported that the number of initial jobless claims in the week ending December 4 rose by 13,000 to 282,000, missing analysts’ forecasts. As a result, the USD Index moved slightly lower, but did it change anything in the short-term picture of the euro?
Looking at the weekly chart, we see that EUR/USD invalidated breakout above the barrier of 1.1000 and the green line based on the Mar and Apr lows, which suggests further declines.
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