No chances for Dollar after the NFP. EURUSD - Buy!

Hi guys,

This is a pure fundamentals-based trade ahead of the Friday "Monster" NFP report. Don't miss the chance!

First of all take a look at recent PMI data - in Eurozone we have a slew of positive surprises in manufacturing/non-manufacturing PMIs. Germany avoided recession and looks like there is a very start of recovery that is heavily underpriced by the markets.

In the US we got downside surprises from ISM check Wednesday calendar reports. ADP jobs estimate - measly 67K vs. 121K forecast. The odds of FOURTH rate cut has risen recently from 15% to more than 20%. This is a solid confirmation that United States is likely to experience economic slowdown in the near future and three rate cuts done in Summer-Autumn has little effect on the economic activity.

Trade setup

Entry point: 1.10750 tomorrow before NFP!
Take Profit: 1.12500
Stop loss: 1.10450

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Enjoy and Happy trading!